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Yara plans $2.5B gas-based fertilizer plant in Africa

  • Nitrogen fertilizer seller Yara International (OTCPK:YARIY) says it plans to build a $2.5B plant in west or east Africa once gas projects come onstream toward the end of the decade.
  • CEO Joergen Ole Haslestad says Yara has held initial talks with governments in countries such as Tanzania, Angola, Ghana, Nigeria and Mozambique about building a “considerable and world-class” urea factory to produce for African and foreign markets.
  • The CEO says Yara also plans to add to its existing seven African bagging and warehousing facilities by opening a $20M unit close to the harbor in Tanzania's capital Dar es Salaam, and plans a similar venture in Ghana once the economic situation improves in that country.
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