Apr 26, 2004
The USD 550 million expansion project includes an ammonia plant and a urea plant with a daily capacity of 2,000 and 3,200 tonnes, respectively, in addition to other support facilities. Qafco-4 will boost Qafco's ammonia production by 50% and urea production by 65%
bringing Qafco's annual production capacity to 2 million tonnes of ammonia and 2.8 million tonnes of urea.
"We believe that Qafco-4 will further strengthen our fertilizer business and create an even better foundation for future growth", says Thorleif Enger, CEO of Yara International during the inauguration in Qatar April 25.
The new expansion also contains the world's largest granulation unit, which is based on Yara's technology and the world's largest bulk store for urea with a capacity of 160,000 tonnes.
"Established as a joint venture company, Qafco has pioneered the industrial development in Qatar. The fascinating success story started with the commissioning of Qafco-1 in 1973 to produce ammonia and urea. With the Qafco-4 expansion, Qafco becomes the world's
largest single site fertilizer producer," says Dr. Enger.
Yara and Hydro have supported each of the four expansions, providing both technology and personnel with experience in both construction and operations. The German company Uhde has performed the construction of both Qafco-3 and 4.
Qafco is owned 25% by Yara and 75% by Industries of Qatar. Yara has a marketing contract for 50% of the urea produced by Qafco.
Yara International ASA is the world's largest supplier of plant nutrition, with 7,500 employees in more than 50 countries. In 2003 the company sold more than 20 million metric tonnes of fertilizer to customers in more than 120 countries.
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This release contains forward-looking statements, which involve risks and uncertainties. A
number of factors could cause actual events to differ materially from those in the forward-looking statements, including, but not limited to, unexpected construction difficulties, risks associated with natural gas, government policy changes or acts of war and terrorism.
For further information:
Arne Cartridge, Chief Communication Officer, tlf. +47 47 900 900
Egil Hogna, Head of Investor Relations, tlf. +47 90 187 865