Allana Potash: on the way to becoming one of the first and largest potash producers in Africa
January 18, 2012 — Farhad Abasov, President and CEO of Allana Potash Corp. (TSX: AAA | ALLRF: OTCQX) in an interview with Tracy Weslosky, Publisher of ProEdgeWire said: “We have finished our exploration last year and we’ve been in the development stage for the last 12-18 months….we’re entering what we call our pre-construction phase.”
Farhad also noted that Allana has secured the necessary water supply and much of the transportation infrastructure in place, crucial factors for the project, which should ensure an initial production of about 1 million tons starting at the end of 2014 or early 2015. Allana has also resorted to project financing mechanisms and Farhad said that “probably 60-65% of $800 million CAPEX requirements can come from project finance or debt financing and the rest we’ll raise from our equity financiers”.
Disclaimer: Allana Potash Corp. is a member of ProEdgeWire.
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Tracy Weslosky is the CEO of InvestorIntel Corp., a company that publishes InvestorIntel.com. A leading source for investors, entrepreneurs and industry leaders alike, InvestorIntel is ... <Read more about Tracy Weslosky>