Haldor Topsoe, Ferrostaal to launch downstream project development JV

Ferrostaal GmbH, a leading global project developer for industrial plants, and Haldor Topsoe A/S, a world leader in catalysis and related process technologies, have announced establishing Ferrostaal Topsoe Projects GmbH, a new JV that will be based in Essen and owned with equal shares by the two companies.

The new company will position itself as a leading player in developing, financing and realizing major industrial projects. Fast growing emerging economies around the world will be the primary market focus, but North America is also expected to hold business potential for the new company.

The JV is subject to approval from the regulatory authorities.

"Ferrostaal Topsoe Projects is a perfect match of competences. Combining the world-leading technology portfolio of Haldor Topsoe with our ability to drive project development and facilitate investments translates into a highly attractive value proposition for customers,” says Dr. Klaus Lesker, Managing Director of Ferrostaal GmbH. 

“Moreover, in emerging economies our projects will leave a very positive footprint by enabling entire countries to utilize natural resources-natural gas or coal for example-to produce fertilizer or other valuable commodities, and in the process stimulate job creation and boost sustainable economic growth,” he adds.

From Haldor Topsoe’s point of view, the new JV also offers a high potential for growth and new business opportunities, according to CEO, Bjerne S. Clausen. “Building partnerships to ‘fast track’ our way into new business areas or expand our current market-reach is a key part of our growth strategy,” says Clausen. “In this context the new JV is a huge step forward due to the positive synergies it carries. We also expect the JV to create opportunities within operations and maintenance of plants, a key business area that we are currently also looking to expand.” says Clausen.

“Ferrostaal is valued globally as an experienced and reliable partner in project development of private and government owned industrial plants. As part of the new JV, we not only benefit from this position, but also from Ferrostaal’s access to attractive project financing and an organization with a strong global network of companies in key target markets,” adds Clausen.

Haldor Topsoe and Ferrostaal have already been working successfully together for some time-most recently on two major ammonia-related projects in Tanzania and Cameroon.

In Tanzania, the companies are involved in the development of a large-scale ammonia complex together with the state-owned Tanzania Petroleum Development Corp. This project is currently the largest investment project in the country with an investment volume of more than US$1 billion. Agriculture in Tanzania will in particular stand to benefit from the project since ammonia is the main component in fertilizer. The sector makes up approximately one third of Tanzania’s gross domestic product, with more than 75% of the population working in the agricultural sector. It is expected that 5,000 direct and indirect jobs will be created during the construction and operating period of the new fertilizer plant.