SOURCE: Orascom Construction Inds, S.A.E.

November 18, 2009 10:53 ET

OCI & FITCO Establish Fert-Trade JV in Brazil

CAIRO, EGYPT--(Marketwire - November 18, 2009) - OCI Fertilizer Group Signs Agreement for the Establishment of a Joint Venture with FITCO in Brazil for Fertilizer Trade distribution

Orascom Construction Industries (OCI) and FITCO International S.A. have decided to expand their existing strategic alliance by establishing a joint venture in Brazil to trade and distribute fertilizer products supplied by the OCI Fertilizer Group.

FITCO is one of the leading fertilizer trading companies with a strong market position in the Brazilian market and has a growing presence in several South American markets. In March 2009, OCI and FITCO signed an agreement for the supply and import of urea into Brazil. Year to-date, OCI and FITCO have supplied a substantial share of nitrogen fertilizer needs in Brazil. The new joint venture agreement with FITCO is a major part of the OCI Fertilizer Group's strategy to establish long-term partnerships with key distributors in strategic import markets and to implement its direct sales into the Brazilian market.

FITCO Managing Director, Marcelo Simionato, commented: "we believe that the new joint venture shall provide a platform for further growth in Brazil and potentially other South American markets. We will continue to evaluate new opportunities through the newly established joint venture to better attend our clients in the region."

OCI Chief Executive Officer, Nassef Sawiris commented: "the strategic alliance agreement announced earlier this year for the supply of granular urea fertilizer to the Brazilian market has been very successful. By creating this new jointly owned trade and distribution business, we have strengthened our partnership with FITCO which will enable OCI to have a permanent presence in Brazil."

For additional information contact: For additional information on OCI:

OCI Investor Relations Department:  www.orascomci.com

Omar Darwazah                       OCI stock symbols: OCIC.CA / ORCI
Email: omar.darwazah@orascomci.com  EY / OCICqL / ORSD

Erika Wakid                         Orascom Construction Industries
Email: erika.wakid@orascomci.com    (OCI)
                                    Nile City Towers - South Tower
                                    2005A Corniche El Nil
Hassan Badrawi                      Cairo, Egypt
Director


Tel: +202 2461 1036/0727/0914
Fax: +202 2461 9409                 This information is provided by RNS
          The company news service from the London Stock Exchange

END

Contact Information