Oslo, 5 December 2014: The Board of Yara International ASA has approved an investment of SEK 1,747 million (USD 220 million) to sustain and increase technical ammonium nitrate (TAN) capacity in the Köping site in Sweden.
The investment includes the construction of a new nitric acid plant replacing an existing plant which is approaching the end of its operating life. The total TAN capacity after the upgrade will reach about 450 kt per annum.
"With this investment, Yara further strengthens its position as the largest independent supplier of high quality TAN globally. After the expansion, Köping will be well positioned to efficiently supply growing demand in Nordic markets as well as continuing to supply global markets," says Torgeir Kvidal, President and Chief Executive Officer of Yara International ASA.
The new plant will be based on state-of-the-art technology, improving energy efficiency and further reducing greenhouse gas emissions in the Köping plant. Construction will start in 2015, with completion expected in second half 2017.
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 acc. to §5-12 vphl (Norwegian Securities Trading Act)
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Yara International ASA via Globenewswire
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