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FINANCIAL NEWS
Qafco, MPCL sign aqueous ammonia deal
15 Jul 2011
(MENAFN) Qatar Fertiliser Company’s (QAFCO) Vice Chairman and Managing Director, Khalifa Abdullah Al Sowaidi, stated that the company signed a deal with Mesaieed Power Company Limited (MPCL) by which QAFCO would deliver 13000 tons of aqueous ammonia per year to MPCL, reported The Peninsula.
Al Sowaidi also said that MPCL would use the aqueous ammonia at its power plant’s power generator. He pointed out that aqueous ammonia was a well known agent used in reducing nitrogen oxides emissions, which helps protect the environment.
The Chairman added that QAFCO planned on supplying aqueous ammonia to other companies as well as gas-operated industrial plants in Qatar.
It is worth noting that QAFCO was founded in 1969 as a joint venture between the State of Qatar, Norsk Hydro Norway and Davy Power gas to produce Ammonia & Urea by utilizing Qatar’s abundant gas resources. The company is now owned by Industries Qatar (IQ) as 75% shareholder and Yara Netherlands as 25% shareholder.
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