Yara to establish joint venture with Kribhco of India

24-Apr-2007

Yara International ASA has signed a Heads of Agreement with Krishak Bharati Cooperative Limited (Kribhco) of India with the intention to establish a joint venture for production and marketing of mineral fertilizer. The partners will each own 50% of the planned joint venture.

The joint venture's objective is to establish an Indian production base by acquiring existing production facilities, combined with import. The partners will seek to establish a foreign production base in areas with competitively priced raw materials.

"Our new partnership with Kribhco is a strong fit between their distribution position in one of the worlds biggest and fastest growing fertilizer markets, and our global sourcing and leadership on NPKs", says Thorleif Enger, President and CEO at Yara International ASA. cooperatives

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