Governor Terry Branstad says unrest in Egypt shouldn’t have any impact on an Egyptian company’s plan to build a fertilizer plant in southeast Iowa.
“Obviously that’s a delicate situation in Egypt right now, but the company’s that’s building the Iowa Fertilizer Plant is a really solid international company and we don’t foresee the unrest that’s occurring in Cairo on that project,” Branstad told reporters earlier this afternoon during a telephone conference call.
Last fall Orascom Construction Industries announced plans to build a $1.4 billion fertilizer plant in Lee County, near the town of Wever. About half a billion in federal, state and local government incentives helped seal the deal.
Egypt’s first Democratically-elected president was ousted by that country’s military last week after protests over the way the Muslim Brotherhood leader was steering Egypt’s new government. Orascom — the Egyptian company building the Iowa Fertilizer Plant — is based in Cairo, with projects underway in 25 countries around the globe. Crews began moving earth for its southeast Iowa project in May. The plant is projected to be the world’s largest fertilizer plant.