Heads of Agreement signed with Orica and Apache
Mar 01, 2012
Oslo (2012-03-01): Yara has signed a heads of agreement with Orica and Apache via joint venture to build a 330,000 metric tons ammonium nitrate plant on the Burrup peninsula and to distribute ammonium nitrate and other explosives products to mining customers in the Pilbara region.
Yara will be the operator of the ammonium nitrate plant and Orica will manage the sales and distribution.
Final agreement is subject to concluding negotiations on the contract for the engineering, procurement and construction of the ammonium nitrate plant and Board approvals.
The parties are targeting commencement of construction by mid 2012. Yara and Orica will each have a 45% interest in the joint venture and Apache the remaining 10%.
Anders Lerstad, Investor Relations
Telephone (+47) 24 15 75 86
Cellular (+47) 93 42 69 54
Bernhard Stormyr, Media Relations
Cellular (+47) 90 10 76 85
Yara International ASA is the world's leading chemical company that converts energy, natural minerals and nitrogen from the air into essential products for farmers and industrial customers. As the number one global supplier of mineral fertilizers, we help provide food for a growing world population. Our industrial product portfolio includes environmental protection agents that prevent air pollution. Yara's global workforce of 7,300 employees represents the great diversity and knowledge that enables Yara to remain a leading performer in the industry.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.