Yara proceeds with Belle Plaine and Porsgrunn expansions
(Thomson Reuters ONE) -
Oslo (2012-06-11): The Board of Yara International ASA has approved expansion
projects at the company's Belle Plaine (Canada) and Porsgrunn (Norway)
facilities, adding respectively 1.3 million tons of urea and 300 kilotons NPK on
completion of the projects.
"I am delighted to confirm these highly value-creating projects for Yara. Taking
advantage of the excellent location of our existing Belle Plaine facility in
Canada, we will increase our presence and scale in the North American market by
more than doubling our capacity at the site. The Porsgrunn expansion marks an
important step in our value-added fertilizer growth plans, driven by increasing
demand for high-quality NPK fertilizer for cash crop markets outside Europe,"
said Jørgen Ole Haslestad, President and Chief Executive Officer of Yara.
The Belle Plaine expansion will comprise an integrated world scale ammonia and
urea line with a urea capacity of approximately 1.3 million tons per annum. Part
of the urea produced will be with sulphur, which will meet the increasing demand
from the canola crop segment in the Northern Plains region. The Belle Plaine
project is approved for a fast-track process, with expected start-up in second
half 2016. The final decision to implement the project is subject to an EPC
contract, and agreements with Saskatchewan authorities related to utilities and
other key terms of the project.
In Porsgrunn, Yara will invest approximately NOK 300 million to increase NPK
capacity by 300 kilotons. The project will be implemented with a gradual step-up
in capacity from 2012 to completion in 2014.
Contact
Thor Giæver, Investor Relations
Telephone (+47) 24 15 72 95
Cellular (+47) 48 07 53 56
E-mail thor.giaver(at)yara.com
Esben Tuman, Media Relations
Cellular (+47) 90 50 84 00
E-mail esben.tuman(at)yara.com
Yara delivers solutions for sustainable agriculture and the environment. Our
fertilizers and crop nutrition programs help produce the food required for the
growing world population. Our industrial products and solutions reduce
emissions, improve air quality and support safe and efficient operations.
Founded in Norway in 1905, Yara has a worldwide presence with sales to 150
countries. Safety is always our top priority.
www.yara.com
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Yara International ASA via Thomson Reuters ONE
[HUG#1618617]
Unternehmensinformation / Kurzprofil:
Datum: 11.06.2012 - 08:02 Uhr
Sprache: Deutsch
News-ID 154872
Anzahl Zeichen: 3225
contact information:
Town:
Oslo
Kategorie:
Business News
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"Yara proceeds with Belle Plaine and Porsgrunn expansions"
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