YARA INTERNATIONAL TO CONSTRUCT US$ 2BN GAS PLANT IN MOZAMBIQUE

Yara international seeks more investors to partner in the construction of a gas plant in Mozambique.

Yara international which is a Norwegian fertilizer maker is to construct a gas plant in Mozambique. The project is geared towards having ammonia and urea from the country’s gas output that will produce up to 1.3-million metric tons of fertilizers annually.

Yara CEO, Svein Tore Holsether; “The value of the project, if I use industry benchmarks, will be about US $2billion investment.”

The company intends to seek partners to share the costs and have no construction time frame but discussions on a development programme were continuing.

When the project is completed, it will have the ability of using between 80million and 90million cubic feet of natural gas per day to produce ammonia and urea plus in addition to making fertilizers, the site would have a power plant with capacity of 50 MW.

Mozambique intends to replace local products made from its natural gas resources by reducing fertilizer imports because the fertilizer import is now important in the country agricultural industry.