Feb 17, 2006
Yara has now initiated a project to explore further opportunities to leverage its existing infrastructure in Trinidad. The scope of the project includes increasing and optimizing the ammonia capacity and adding downstream and industrial products like urea, ammonium nitrate and urea ammonium nitrate (UAN, a liquid fertilizer). The study will especially evaluate the opportunity of technical ammonium nitrate production for the growing markets in Latin America.
The scope of the new production facility could imply investments between USD 600-1000 million, depending on the scheme selected. Yara plans to make a decision by year-end 2006.
Yara intends to join up with local partners for the project and use its downstream and industrial system to market the products.
Yara is the sole owner of Yara Trinidad Ltd., which owns and operates an ammonia plant in Trinidad and Tobago. Yara also owns 49% of the shares in Trinidad Nitrogen Co., Ltd. (Tringen), a joint venture with National Enterprises Ltd., an entity controlled by the Government of Trinidad and Tobago. Yara operates and manages the two ammonia plants owned by Tringen.
Egil Hogna, Investor Relations
Telephone (+47) 24 15 71 66
Cellular (+47) 90 187 865
Torgeir Kvidal, Investor Relations
Telephone (+47) 24 15 72 95
Cellular (+47) 91 339 832
Arne Cartridge, Media Relations
Telephone (+47) 24 15 73 01
Cellular (+47) 47 900 900
Yara International ASA is a leading chemical company that converts energy 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 7000 employees represents great diversity and talent enabling Yara to remain a leading performer in its industry.www.yara.com