Oct 19, 2007
"Increased natural gas prices in so-called 'stranded gas' regions like the Middle East, are improving the relative competitiveness of European ammonia plants. Efficient European ammonia plants now represent a more attractive case for upgrading investments. This investment takes advantage of urea upgrading margins on excess ammonia capacity in Sluiskil and improves our finished product portfolio. Moreover the replacement of existing capacity reduces maintenance costs and improves energy efficiency at the plant," says Sven Ombudstvedt, CFO and Head of Strategy at Yara International.
The new urea unit will be integrated into the existing facilities at Yara Sluiskil. Currently aproximately 70 percent of ammonia production on-site is consumed in the production of finished fertilizer products with the balance transported to other Yara production sites or sold to third parties. With more ammonia upgraded to urea, liquid fertilizer, AdBlue and other finished products on-site, Yara's exposure to the international ammonia market will be reduced. On-site integration will also further improve energy efficiency and reduce maintenance and operating costs.
Yara Sluiskil produces ammonia, nitric acid, nitrates, urea, liquid fertilizer, liquefied CO2 for the food industry and environmental products. The plant ranks among the largest and most efficient European fertilizer facilities.
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 7,000 employees represents great diversity and talent enabling Yara to remain a leading performer in its industry.www.yara.com