People & Business :: Emerging Companies
Yara Goes Ahead with Libyan Fertilizer JV
9:52 AM MST | February 23, 2009
Yara International, National Oil Corp. (NOC; Tripoli), and Libyan Investment Authority (LIA; Tripoli) have signed final agreements to create a previously announced joint venture, Libyan Norwegian Fertiliser Co. (Lifeco) (CW, July 28, 2008, p. 15). Yara has 50% of the jv, and NOC and LIA each own 25%. NOC will transfer its ammonia and urea production complex at Marsa El Brega, Libya to Lifeco. The Marsa El Brega assets are valued at $225 million. Yara says it will contribute $225 million in cash to the jv. NOC will supply natural gas to Lifeco under a long-term...
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