Stock Name: Olam
Company Name: OLAM INTERNATIONAL LIMITED
DBS Vickers Securities in a Sept 13 research report says: "Olam announced that the Gabon Fertiliser Company (GFC), a joint venture between Olam, Tata Chemicals and the Government of Gabon, has signed a Pre Construction Services Agreement with Technip S.A. (Technip) for the proposed construction of a 1.3m MT p.a. urea fertiliser project in Gabon.
"We see the completion of gas due diligence, signing of fixed price gas contract and appointment of Technip as positive developments. We are confident of a financial close on the project by end 1QCY12.
"There is no change to our numbers at this point in time, as the project has not been given the final go ahead, pending financial closing. The Gabon urea project is estimated to provide c.47 cents per share upside to our current valuation. Target price of $2.55. HOLD"
Company Name: OLAM INTERNATIONAL LIMITED
| Research House: DBS Vickers | Price Call: HOLD | Target Price: 2.55 |
DBS Vickers Securities in a Sept 13 research report says: "Olam announced that the Gabon Fertiliser Company (GFC), a joint venture between Olam, Tata Chemicals and the Government of Gabon, has signed a Pre Construction Services Agreement with Technip S.A. (Technip) for the proposed construction of a 1.3m MT p.a. urea fertiliser project in Gabon.
"We see the completion of gas due diligence, signing of fixed price gas contract and appointment of Technip as positive developments. We are confident of a financial close on the project by end 1QCY12.
"There is no change to our numbers at this point in time, as the project has not been given the final go ahead, pending financial closing. The Gabon urea project is estimated to provide c.47 cents per share upside to our current valuation. Target price of $2.55. HOLD"
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