Yara to establish JV with NOC/LIA of Libya
This partnership agreement signed today covers upgrading of the existing production facilities at Marsa El Brega in Libya, and to study the feasibility of adding new world class fertilizer plants.
"With our new partnership with The National Oil Corporation and Libyan Investment Authority we have found an excellent strategic fit, including sound economics and future development opportunities. We believe that this new cooperation will serve to further strengthen Yara's position as the global market leader within the fertilizer industry," says President and CEO of Yara International, Thorleif Enger reaffirming his previous statement.
The existing operations currently produce approximately 700,000 tones of ammonia per year, of which approximately 150,000 tones are available for sale, and 900,000 tones of urea.
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