Yara completed the formation of a joint venture that gives Yara a 50 percent stake in a large fertilizer plant on the Libyan coast.
Yara’s joint venture with the National Oil Corporation of Libya (NOC) and the Libyan Investment Authority (LIA) creates the Libyan Norwegian Fertiliser Co (Lifeco). NOC agreed to transfer the assets of an existing fertilizer plant at Marsa El Brega, valued at USD 225 million, to Lifeco, while Yara agreed to invest a corresponding amount of cash in Lifeco.
Libyan Norwegian Fertiliser Co (Lifeco)
Yara’s Lifeco fertilizer joint venture is located on the Mediterranean coast at Marsa El Brega.
Production - Lifeco, Libya