Emmerson Plc, a Moroccan potash development company, announced the appointment of Shard Capital Corporate Finance to lead the structuring and arrangement of project finance debt for its Khemisset potash project in Morocco. The project enjoys a leading cost profile in terms of capital costs and all-in cost of the lower quartile delivered to customer, which together yield exceptional economic metrics including an average EBITDA over the life of the mine. of US $ 236 million and an after-tax NPV. US $ 1.4 billion based on the feasibility study published on June 1, 2020.
Adrian Sender, Partner at Shard Capital Corporate Finance, commented: “We are delighted to be working with the Emmerson team to ensure they have the best capital structure in place and we have already had some very positive engagements. with lead banks and ECAs for both conventional funding tranches. As a high margin, low CAPEX project strategically located close to the Port of Casablanca, Emmerson’s K60 MOP production is expected to come at a time when demand for fertilizer in the medium term is expected to increase. “
Graham Clarke, CEO of Emmerson, added: “Having previously worked with Shard Capital Corporate Finance, we are confident that his team will help us find the most appropriate financing structure to support the continued development of Khemmiset. We remain confident in the value of the project and look forward to updating the market on future developments. “
Read the article online at: https://www.worldfertilizer.com/product-news/14102020/emmerson-plc-appoint-debt-advisor/
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