Jul 13, 2006
Oslo (2006-07-13): Qatar Fertiliser Company (QAFCO), and Qatar Intermediate Industries Holding Company today signed a shareholding agreement establishing the Qatar Melamine Company. The Qatar Melamine Company plans to start construction of a melamine plant with a production capacity of 60,000 tonnes per year in the fourth quarter 2006. The total cost of the project is estimated at USD 250 million.
Qatar Melamine Company is a joint venture company for production of melamine. QAFCO owns 60 percent stake in the Qatar Melamine Company while Qatar Intermediate Industries Holding Company owns 40 percent. Yara International owns 25 percent of QAFCO.
Construction of the Melamine plant will commence in the fourth quarter of 2006 and the plant is due for completion in the first quarter of 2009. The plant will be the largest melamine plant in the Middle East and the second largest in the world. The plant site will be in the Mesaieed industrial area and within the QAFCO's complex, where it will benefit from QAFCO's production of high quality urea as feedstock. The Melamine plant will be integrated with the production facilities of QAFCO, which, under the Qatar Melamine shareholders' agreement, will handle both the administrative and operational aspects of the company.
Melamine is a chemical product used in laminates, wood adhesives, surface coatings, textile treating and moulding compounds.
Torgeir Kvidal, Investor Relations
Telephone (+47) 24 15 72 95
Cellular (+47) 91 339 832
Hamed Brodersen, Media Relations
Cellular (+47) 40 468 110
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 6800 employees represents great diversity and talent enabling Yara to remain a leading performer in its industry.