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interesting response on the Advfn BLVN board - 'all very odd and probably nowt' (Warbaby); 'something seems to be happening in the background' (Gark) - The Ferrostal article out of the blue (about something largely 7 years ago) is perhaps linked to the recent corporate action (share transfer) at Blvn [Warbaby - the key is in the last last line, ie total shares 335m but VOTING shares 323m with balance held in treasury. For example, a would be purchaser would need to buy 4m shares fewer and COC's %age share of voting shares rise.]
Probably just a coincidence; but intriguing nonetheless.
http://otp.investis.com/clients/uk/bowleven1/rns/regulatory-story.aspx?cid=1058&newsid=493191
https://www.businessincameroon.com/agrobusiness/2305-4084-ferrostaal-signs-a-gas-supply-agreement-to-its-giant-fertilizer-plant-to-be-constructed-in-limbe-with-euroil-and-nhc
Also note:
https://www.energymixreport.com/cameroon-seeks-new-partner-to-build-limbe-power-plant/
https://www.investiraucameroun.com/economie/2509-15267-depuis-7-ans-ferrostaal-peine-a-materialiser-son-projet-d-usine-d-engrais-chimique-dans-le-sud-ouest-du-cameroun
(Business in Cameroon) - The Cameroonian ministry in charge of the economy (Minepat) informs that the German company Ferrostaal is struggling to materialize its chemical fertilizer plant project in southwestern Cameroon.
According to this Cameroonian public administration, Ferrostaal, specializing in the manufacture of chemical fertilizers, has been in negotiations for four years with Cameroon and other partners. However, “? the negotiations come up against the proposed gas price which makes the project unprofitable. The file is at the National Hydrocarbons Company, ?”reveals the Minepat.
And yet, from February 14 to 18, 2018, a delegation of German businessmen, led by Günter Nooke, Chancellor Angela Merkel's special representative for Africa, stayed in Cameroon to revive this project.
After being received by the Head of State, Paul Biya, on February 15, an audience was granted to the German envoy by the Minister in charge of the Economy at the time, Louis Paul Motaze. The German side then explained that Ferrostaal's discussions with SNH are stumbling over the cost of raw materials. Mr. Motaze had promised to study the matter. But since then, the project has stalled.
For the record, a commercial pre-agreement, relating to the supply of natural gas to the future chemical fertilizer production plant in Limbé, was signed in 2013, 7 years ago. It was between SNH, Ferrostaal and the company EurOil Limited.
The chemical fertilizer production project should require an investment of CFAF 1,250 billion, for an annual production of 600,000 tonnes of ammonia and 700,000 tonnes of urea, intended for the local market and for export. The infrastructure is expected to be supplied with gas to the tune of 70 million standard cubic feet per day.
Sylvain Andzongo