1. 1 INDO EGYPTION FERTILIZER COMPANY SAE a joint venture of Indian Farmers Fertiliser Cooperative Ltd., India and El Nasr Mining Company, Egypt May 2006

2. 2 About IFFCO Indian Farmers Fertiliser Cooperative Limited (IFFCO) incorporated as a multistate cooperative society in India is the largest fertiliser producer in India. Indian Farmers Fertiliser Cooperative Limited (IFFCO) incorporated as a multistate cooperative society in India is the largest fertiliser producer in India. Owned by more than 38000 cooperative socities representing about 55 million farmers. Owned by more than 38000 cooperative socities representing about 55 million farmers. Annual Production of 6.4 million tones fertilisers in the year 2005-06. Annual Production of 6.4 million tones fertilisers in the year 2005-06. Annual Sales of 8.2 million tones in the year 2005-06 Annual Sales of 8.2 million tones in the year 2005-06 20% market share of nitrogenous and 25% market share of phosphatic fertilisers in India. 20% market share of nitrogenous and 25% market share of phosphatic fertilisers in India. Annual turnover for the year ending March 2006 is over Annual turnover for the year ending March 2006 is over US$ 2.2 billion and profit of US$ 107 million US$ 2.2 billion and profit of US$ 107 million Networth as on 31 st March 2006 US$ 790 million Networth as on 31 st March 2006 US$ 790 million

3. 3 About IFFCO About IFFCO Major Joint Ventures Industries Chemique du Senegal (ICS), Senegal Industries Chemique du Senegal (ICS), Senegal Indian Potash Limited, India Indian Potash Limited, India IFFCO-Tokio General Insurance Company Ltd, India IFFCO-Tokio General Insurance Company Ltd, India Oman-India Fertiliser Company, Oman Oman-India Fertiliser Company, Oman National Commodity and Derivative Exchange Limited, India National Commodity and Derivative Exchange Limited, India National Collateral Management Services Ltd, India National Collateral Management Services Ltd, India Godavari Fertilisers and Chemicals Ltd., India Godavari Fertilisers and Chemicals Ltd., India

4. 4 About ENMC El Nasr Mining Company (ENMC) is the largest mining company in Egypt under Metallurgical Industries Holding Company. El Nasr Mining Company (ENMC) is the largest mining company in Egypt under Metallurgical Industries Holding Company. ENMC is the main miner, supplier and exporter of rock phosphate in Egypt. ENMC is the main miner, supplier and exporter of rock phosphate in Egypt. Owns Rock phosphates mines in eastern and western Sabaiya deserts besides other minerals all over Egypt. Owns Rock phosphates mines in eastern and western Sabaiya deserts besides other minerals all over Egypt. Owns Hamerawein port at Red Sea. Owns Hamerawein port at Red Sea. Exports about 1.5 million tones of rock phosphate yearly in addition to supplies in domestic market. Exports about 1.5 million tones of rock phosphate yearly in addition to supplies in domestic market.

5. 5 Project Highlights Location : Eastern desert at Sabaiya near Edfu, Aswan, Egypt adjacent to Rock Phosphate mines/ works of ENMC Location : Eastern desert at Sabaiya near Edfu, Aswan, Egypt adjacent to Rock Phosphate mines/ works of ENMC Main Product : Phosphoric Acid 1500 tones per day (P2O5) Main Product : Phosphoric Acid 1500 tones per day (P2O5) Intermediate Product : Sulphuric Acid 4500 tones per day Intermediate Product : Sulphuric Acid 4500 tones per day

6. 6 Project Highlights KEY REQUIREMENTS Rock Phosphate : About 2 million tones per year Rock Phosphate : About 2 million tones per year Sulphur : 0.5 million tones per year Sulphur : 0.5 million tones per year Production of Phosphoric Acid : 1.0 million tones (Bulk) per year Production of Phosphoric Acid : 1.0 million tones (Bulk) per year Water : 15000 cubic meters per day Water : 15000 cubic meters per day Power : Captive Generation of 25 MW Power : Captive Generation of 25 MW

7. 7 Project Highlights Capital Investment: 325 million US$ Capital Investment: 325 million US$ Debt equity ration 70 :30 Debt equity ration 70 :30 Shareholding Pattern: IFFCO/Affiliates 76% Shareholding Pattern: IFFCO/Affiliates 76% ENMC 24% ENMC 24%

8. 8 Project Highlights Port facility required for import of Sulphur and Export of Phosphoric Acid Port facility required for import of Sulphur and Export of Phosphoric Acid Railway Net work required to be improved for transportation of Sulphur and phosphoric Acid from/ to port Railway Net work required to be improved for transportation of Sulphur and phosphoric Acid from/ to port

9. 9 Strategic Partnership ENMC shall supply about 2 million tones of rock phosphate to the project from its mines at Sebaiya on long term basis ENMC shall supply about 2 million tones of rock phosphate to the project from its mines at Sebaiya on long term basis IFFCO will off-take the entire phosphoric acid production for exports. IFFCO will off-take the entire phosphoric acid production for exports.

10. 10 Pre-Project Mile Stones Conceptulisation for investment : December 2004 Conceptulisation for investment : December 2004 First Visit to Egypt: December 2004 First Visit to Egypt: December 2004 Identification of the JV Partner: January 2005 Identification of the JV Partner: January 2005 MOU with El Nasr Mining Co.: April,2005 MOU with El Nasr Mining Co.: April,2005 Approval for Investment in: May,2005 Approval for Investment in: May,2005 Project under Private Free Zone by General Authority for Investment & Project under Private Free Zone by General Authority for Investment & Free Zones (GAFI) In Principle allocation of Land: May 2005 In Principle allocation of Land: May 2005

11. 11 Pre-Project Mile Stones Signing of Share Holders Agreement: October 2005 Signing of Share Holders Agreement: October 2005 Incorporation of JV Company :November 2005 Incorporation of JV Company :November 2005 First Board Meeting & First Board Meeting & Share Holders Meeting:November 2005 EIA by CAPSCU, Cairo University:November 2005 EIA by CAPSCU, Cairo University:November 2005 Environmental Clearance: January 2006 Environmental Clearance: January 2006 IFC appointed as finance facilitator IFC appointed as finance facilitator and consultant: February 2006 IFC team visited the site: March 2006 IFC team visited the site: March 2006 Testing of Rock Phosphates: March 2006 Testing of Rock Phosphates: March 2006 Established Head Office of the Established Head Office of the Company in Cairo: March 2006

12. 12 Pre-Project Mile Stones Appointed Ardaman Associates for Appointed Ardaman Associates for Basic design of Gypsum disposal site: March 2006 Geo Technical Studyby by Dr. Fathi Geo Technical Studyby by Dr. Fathi M.Abdrabbo, Alexandria University: April 2006 Technical Study Report by PDIL: April 2006 Technical Study Report by PDIL: April 2006 Logistics Studyby CAPSCU, Logistics Studyby CAPSCU, Cairo University: May 2006

13. 13 Schedule Pre-Project Activities Social Impact Assessment as per Social Impact Assessment as per IFC guide lines by Centre for Environmental Researchand Studies (CERS) Cairo University: June 2006 Finalisation of Plant Layout: June 2006 Finalisation of Plant Layout: June 2006 EIA for Crushing Unit of ENMC by EIA for Crushing Unit of ENMC by CERS, Cairo University: July 2006 Finalisation of Logistics Plan: June 2006 Finalisation of Logistics Plan: June 2006

14. 14 Schedule Pre-Project Activities Finalisation of consultant for EPC Finalisation of consultant for EPC Contract: October 2006 Signing of financing agreements:September 06 Signing of financing agreements:September 06 Financial Closure:September 06 Financial Closure:September 06 Zero date of the Project: 01/10/1006 Zero date of the Project: 01/10/1006 Completion of the Project: 31/09/2009 Completion of the Project: 31/09/2009

15. 15 Benefits of the Project to Egypt Foreign direct investment of about US$ 325 million Foreign direct investment of about US$ 325 million Net foreign exchange inflow of over US$ 2 billion over 20 years of plant operation. Net foreign exchange inflow of over US$ 2 billion over 20 years of plant operation. Substantial value addition to Egyptian rock phosphate reserves. Substantial value addition to Egyptian rock phosphate reserves. Placing Egypt on the international Phosphoric acid Map. Placing Egypt on the international Phosphoric acid Map. Boost to local economy. Boost to local economy. Boost to development of ancilliary industries to support the plant. Boost to development of ancilliary industries to support the plant. Direct employment of local population Direct employment of local population Substantial indirect employment for plant construction, transportation and support functions. Substantial indirect employment for plant construction, transportation and support functions.

16. 16 Areas of Concern Railways/ roadways upgradation to facilitate transportation of phosphoric acid to the port and Sulphur from the port to the plant. Railways/ roadways upgradation to facilitate transportation of phosphoric acid to the port and Sulphur from the port to the plant. Port upgradation for additional solid and liquid handling requirements. Port upgradation for additional solid and liquid handling requirements.

17. 17 Suggestions Upgradation of Railways on Fast Track Upgradation of Railways on Fast Track Upgradation of Ports on Fast Track Upgradation of Ports on Fast Track Land Acquisiton – on Fast Track Land Acquisiton – on Fast Track Creation of a Pool of Consultants in GAFI in the areas of Legal, Taxation, Finance, Human Resource etc. Creation of a Pool of Consultants in GAFI in the areas of Legal, Taxation, Finance, Human Resource etc. Defining a Nodal Officer in important Ministries for coordination with GAFI / Investors. Defining a Nodal Officer in important Ministries for coordination with GAFI / Investors. Creation of Business Centre type facilities in GAFI for new Investors. Creation of Business Centre type facilities in GAFI for new Investors. Pursuance of Strategic Investors abroad. Pursuance of Strategic Investors abroad. Simplification of procedures for establishment of Offices, Telephone Connections, Work Permits, Residence Visas etc. Simplification of procedures for establishment of Offices, Telephone Connections, Work Permits, Residence Visas etc.