KARACHI, Dec 4: Algerian authorities have accepted the bid of Engro Chemical Pakistan Ltd (ECPL) for setting up a phosphatic fertiliser complex under a joint venture with Ferphos, the Algerian national iron ore and mining company.

According to intimation of ECPL to KSE, Ferphos has confirmed that the Algerian authorities have accepted the Engro’s bid. Ferphos has invited ECPL to negotiate the terms and conditions of the partnership.—APP