Yara completes acquisition Tata Chemicals' urea business

Yara completes acquisition of Tata Chemicals' urea business

7:24 AM, 12th January 2018
Yara completes acquisition of Tata Chemicals' urea business
The acquired plant has an annual production of 0.7 million tonnes ammonia and 1.2 million tonnes urea. (File photo)

OSLO, NORWAY: Yara International ASA has completed the acquisition of Tata Chemicals' urea business in India, marking a significant step forward for its growth ambitions in India.

The acquired plant has an annual production of 0.7 million tonnes ammonia and 1.2 million tonnes urea. The plant was commissioned in 1994, and is the most energy-efficient urea plant in India, comparable with Yara's best plants.

The transaction is valued at $421 million on a debt and cash free basis and comprises a net operating capital value of $130 million and other assets valued at $291 million, with the operating capital value subject to post-closing adjustment.

"I am pleased to announce the completion of the acquisition of Tata Chemicals' urea business, which is a major step forward for Yara as we broaden our footprint in the world's second-largest fertilizer market. The inclusion of these assets in our global business will enable us to accelerate our growth in India," said Svein Tore Holsether, president and chief executive officer of Yara.

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Evonik, Fufeng partner to produce L-threonine

ESSEN, GERMANY / JUNAN, CHINA: Evonik Industries AG and the Fufeng Group have entered into a cooperation agreement for the production of ThreAMINO (L- ...

Read more
Beaulieu introduces first biomass-balance polyamide yarns

WIELSBEKE, BELGIUM: Beaulieu Yarns, the global supplier of high-quality synthetic polyamide and polypropylene yarns, has now offered sustainable versi ...

Read more
GE Additive appoints Jetrion co-founder as new CEO

CINCINNATI, US: GE Additive has appointed Jason Oliver as CEO and vice president, GE Additive. As CEO, Oliver will lead the GE Additive operations inc ...

Read more
Covestro extends CTO contract by five years until 2022

LEVERKUSEN, GERMANY: Covestro AG said that it has extended the contract of board of management member Dr Klaus Schafer, by five years until the end of ...

Read more
Bayer reduces direct interest in Covestro to 14.2 percent

LEVERKUSEN, GERMANY: Bayer AG has reduced its direct interest in Covestro from 24.6 percent to 14.2 percent, selling a total of 21 million shares at a ...

Read more
BASF present ‘Be authentic’ concept for nature-oriented lifestyles

PARIS, FRANCE: BASF SE said that it will present its new “Be authentic” concept and latest product launches for skin care. The concept com ...

Read more
Copyright © 2018. Kimberlite Softwares Pvt. Ltd., India. All rights reserved.
World of Chemicals.