Yara, Arab Potash sign MoU potassium nitrate collaboration

Yara, Arab Potash sign MoU on potassium nitrate collaboration

5:13 AM, 14th February 2018
Potassium nitrate is a key product in solutions for fertigation. (File photo)
Potassium nitrate is a key product in solutions for fertigation. (File photo)

OSLO, NORWAY: Yara International ASA and Arab Potash Company (APC) have signed a memorandum of understanding (MoU) for mutual cooperation in the field of potassium nitrate production and sales.

Both parties will explore and evaluate the possibility of doubling the production capacity of Kemapco, the potassium nitrate producing subsidiary of APC. Accordingly, Yara is targeting a minority position (30 percent) in Kemapco with a 100 percent distribution and marketing agreement.

Potassium nitrate is a key product in solutions for fertigation, a fast-growing segment that Yara and Kemapco aim to develop further through this collaboration.

"With this MoU, we are pleased to establish a collaboration of strategic value. Our farmer-centric approach means that we offer a full range of nutrients and solutions to meet farmers needs in all climates and for all soils. Fertigation is the combined application of water and nutrients to a crop, a mix of fertilizer and irrigation in the same application. The collaboration with Kemapco will facilitate an exchange of technology and know-how and secure access to potassium nitrate that will strengthen our fertigation offering," said Terje Knutsen, executive vice president, crop nutrition, Yara.

"The signing represents an important step in the plan to grow our business, we believe that our high-quality product will be a great fit for the growing potassium nitrate demand. We are pleased to have the opportunity to grow our business with Yara's extensive sales network," added Jamal Al-Sarayrah, chairman of the board of directors, APC.

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