'Fall on the sword' and junk Gabon fertilizer project: Muddy Waters to Olam

Will this be another ring of fire between the two?

According to OCBC, the viability of the Gabon fertilizer project was called into question by Muddy Waters, where MW believed that Tata Chemical (TCL) is highly unlikely to participate in the project.

"We note that during the results briefing, Olam stated that its relationship with TCL is “still strong” but added that they are 'still discussing and have not reached closing conditions'," OCBC said.

OCBC also said that MW now recommends that Olam “fall on the sword” and terminate the project, despite spending significant money on dredging.

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