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Yara and Deepak Form Fertilizer JV in India

5:42 AM MST | February 7, 2008 |

Natasha Alperowicz

Yara says it has signed a heads of agreement with Deepak Fertilisers and Petrochemicals (Pune, India) with the intention to establish a joint venture for the production and marketing of technical ammonium nitrate (TAN) and specialty fertilizers. For Yara this will be an entry into the Indian market with manufacturing assets.  Yara will have a 49% stake in the jv.  As part of the proposed deal, the jv will take over a 300,000-m.t./year TAN plant now under construction at Paradip in the Indian state of Orissa, which is due on stream by the end of this...

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