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(2008-05-13 08:30)
Yara and Burrup Holdings sign MoU to build TAN plantOslo (2008-05-13): Yara International ASA and Burrup Holdings Pty Ltd (BHPL) have signed a Memorandum of Understanding to build a 350,000 ton p.a. technical ammonium nitrate (TAN) plant through the proposed 50/50 joint venture company Burrup Nitrates (BNPL). The TAN plant would primarily supply the fast-growing iron ore mining operations in the Pilbara region of Australia. The plant will be built adjacent to the Burrup Fertiliser (BFPL) ammonia facility, which has been operating successfully since it's commissioning in April 2006. The location of the new TAN plant will enable it to maximize synergies from competitive feedstock and utilities supplies. Yara will market the entire output from the plant.
The plant's close proximity to the Pilbara region together with adjacent ammonia supply gives it a distinct advantage over other Australian ammonium nitrate players.
"Strong global demand for energy and minerals has created a tight supply-demand balance for technical ammonium nitrate. The combination of the competitive and well-located Burrup ammonia facility and Yara's experience in ammonium nitrate production and marketing creates an attractive expansion opportunity", says Thorleif Enger, President and CEO of Yara International.
BHPL is owned by Yara (30%) and Mr. Pankaj Oswal (70%), and owns the world's largest single train merchant ammonia plant, located at the Burrup Peninsula in North Western Australia.
Torgeir Kvidal, Investor Relations
Telephone (+47) 24 15 72 95
Cellular (+47) 91 339 832
E-mail torgeir.kvidal@yara.com
Hamed Brodersen, Media Relations
Cellular (+47) 40 468 110
Yara International ASA is a leading chemical company that converts energy, natural minerals and nitrogen from the air into essential products for farmers and industrial customers. As the number one global supplier of mineral fertilizers and agronomic solutions, we help provide food for a growing world population. Our industrial product portfolio includes environmental protection agents that safeguard air and water purity and preserve food quality. Yara's global workforce of more than 8,000 employees represents great diversity and talent enabling Yara to remain a leading performer in its industry.
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