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After wining two tenders held by Morocco's Office Cherifien de Phosphate, or OCP, the world's leading phosphate exporter, Tekfen is set to invest $620 million in the construction project.
The company plans to build a phosphate pipeline and establish two diammonium phosphate, or DAP, fertilizer facilities with a capacity of 850,000 tons each.
Tekfen Holding Chief Executive Officer Erhan Öner said at a signature ceremony in Casablanca that the 240-kilometer pipeline would be completed in April, 2013 and the DAP fertilizer facility would be finished in June, 2012.
A total of five companies from around the world participated in the tender, Osman Birgili, deputy director general of Tekfen Contracting Group, said.
“We beat out French and Indian companies in the bidding,” Birgili said. “The OCP will provide French loans for us to use for the project.”
Tekfen’s trade relations with Morocco date back some 30 years, Öner said. “There is a great sympathy here towards Turkish people. Compared to many other countries, we work easier in Morocco. The difficult part is the bureaucracy.”
Currently, new investment projects in Morocco are worth a total of $5 billion, Birgili said, adding that Tekfen wanted to obtain a significant share of this amount. “A total of nine facilities will be established and Tekfen has undertaken responsibility for two of them. We worked three years for this bid. From contracting to purchase, Tekfen will undertake the whole of the project.”
Regarding Tekfen’s future goals, Öner said the company has kept away from the Iraqi market for security reasons. “We had a 25-year history in Iraq. Becoming active in Iraq once more is one of our targets. We have an office in Baghdad. We plan to open a new office in Basra, where the petroleum companies are active.”
The year 2010 was one of the company’s best years in turnover, Öner said. “With the latest contracting projects signed in the final quarter of last year, business volume will exceed $2 billion. We also exceeded our targets in the agriculture industry group. We predict that 2011 will also be strong.”
“Tekfen aims to increase its business volume by 10 percent to 15 percent in Turkey,” Birgili said.
Esin Mete, board chairwoman of Toros Tarım, Tekfen Holding’s agricultural industry group, Mostafa Terrab, chief executive officer of the OCP, and Amar Drissi, vice president of the OCP, also attended the ceremony.
Daily News and Economic Review
The company plans to build a phosphate pipeline and establish two diammonium phosphate, or DAP, fertilizer facilities with a capacity of 850,000 tons each.
Tekfen Holding Chief Executive Officer Erhan Öner said at a signature ceremony in Casablanca that the 240-kilometer pipeline would be completed in April, 2013 and the DAP fertilizer facility would be finished in June, 2012.
A total of five companies from around the world participated in the tender, Osman Birgili, deputy director general of Tekfen Contracting Group, said.
“We beat out French and Indian companies in the bidding,” Birgili said. “The OCP will provide French loans for us to use for the project.”
Tekfen’s trade relations with Morocco date back some 30 years, Öner said. “There is a great sympathy here towards Turkish people. Compared to many other countries, we work easier in Morocco. The difficult part is the bureaucracy.”
Currently, new investment projects in Morocco are worth a total of $5 billion, Birgili said, adding that Tekfen wanted to obtain a significant share of this amount. “A total of nine facilities will be established and Tekfen has undertaken responsibility for two of them. We worked three years for this bid. From contracting to purchase, Tekfen will undertake the whole of the project.”
Regarding Tekfen’s future goals, Öner said the company has kept away from the Iraqi market for security reasons. “We had a 25-year history in Iraq. Becoming active in Iraq once more is one of our targets. We have an office in Baghdad. We plan to open a new office in Basra, where the petroleum companies are active.”
The year 2010 was one of the company’s best years in turnover, Öner said. “With the latest contracting projects signed in the final quarter of last year, business volume will exceed $2 billion. We also exceeded our targets in the agriculture industry group. We predict that 2011 will also be strong.”
“Tekfen aims to increase its business volume by 10 percent to 15 percent in Turkey,” Birgili said.
Esin Mete, board chairwoman of Toros Tarım, Tekfen Holding’s agricultural industry group, Mostafa Terrab, chief executive officer of the OCP, and Amar Drissi, vice president of the OCP, also attended the ceremony.
Daily News and Economic Review
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