Oslo based giant Yara International ASA and India’s private sector Deepak Fertilisers and Petrochemicals Corporation Ltd. (DFPCL) will establish a joint-venture to produce and market ammonium nitrate and speciality fertilizers in India. DFPCL will own 51 % of the JV while Yara will own the balance 49 %. The new company will also invest in the 300,000 tpa AN plant under construction at Paradip in Orissa on the east coast of India.
Yara is a US$ 14 billion global leader in ammonia, speciality and bulk fertilizers and ammonium nitrate (AN), industrial gases and other diversified chemical and pollution control products. DFPCL is an integrated chemicals and fertilizers major and has a market capitalization of approximately US$ 250 million.