CHICAGO — Iowa has formally landed Egyptian-based Orascom Construction Industries' proposed $1.4 billion nitrogen fertilizer plant which has filed an initial application to tap up to $1.2 billion of Midwestern Disaster Area Bond financing.

Gov. Terry Branstad, other state officials, and Orascom chief executive officer Nassef Sawiris made the announcement late Wednesday of the state's selection. Branstad in February announced that the company had planned to build the plant in the state under its subsidiary the Iowa Fertilizer Co. A final deal was hampered, however, by some site problems and a $1 billion pitch of incentives from neighboring Illinois.

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