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|Chairman and Chief Executive Officer of ANSA McAL Limited, Mr. A. Norman Sabga, announced today that ANSA McAL, CF Industries, Inc. and Terra Industries Inc. (NYSE symbol: TRA), are progressing to the next phase of the study on the construction of a world scale Nitrogen manufacturing facility. The National Energy Corporation of Trinidad and Tobago Limited has designated a site for the facility at Union Estates and the partners have negotiated a long-term natural gas supply with the National Gas Company of Trinidad and Tobago Limited.|
The three companies have also selected a German engineering company, Uhde GmbH, to perform engineering work and develop the project cost estimates. In the process of this work, Uhde will solicit bids from International as well as Trinidadian suppliers and subcontractors, in a concerted effort to add significant local content and participation in the project. Uhde expects to complete the study by the end of the second quarter of 2005.
ANSA McAL Limited (TTSE symbol: AML), headquartered in the Republic of Trinidad and Tobago, is a highly diversified regional conglomerate involved in manufacturing, brewing, financial services, automotive and distribution sectors. The ANSA McAL Group recently reported another successful year of excellent results, with Profit before taxation increasing by 21.9% to USD $ 74 million from the preceding year. This significant investment in the Energy sector would enhance the company’s portfolio of manufacturing facilities.
CF Industries, Inc., headquartered in Long Grove, Ill, is a major producer and distributor of nitrogen and phosphate products. CF is owned by and serves eight regional farm supply cooperatives.
Terra Industries Inc., headquartered in Sioux City, Iowa, is a leading international producer of nitrogen products. Terra reported 2004 revenues of USD $1.5 billion.