Recently, Yara and Spain’s Tecnicas Reunidas have signed a cooperation agreement that will invest 700 million U.S. dollars in Australia and build an industrial-grade ammonium nitrate project with an annual output of 330,000 tons.
The plant is located in Burrup Peninsula, Western Australia. According to the contract, Yara will provide a one-time cash payment of US$500 million to the contractor. After the signing of the cooperation agreement, it will be transferred to Burrup nitrate company for execution (the company is jointly owned by Yarra and Burrup Controlled Investment Co., Ltd. Holding shares, each holding 50% of the shares). Since Yara also holds a 35% stake in Burrup Holdings, after a comprehensive calculation, Yarra's holding of Burrup nitrate company reached 67.5%. The new ammonium nitrate plant will be adjacent to Burrup's synthetic ammonia plant, which is expected to greatly increase the supply of chemical raw materials after completion.
Tecnicas Reunidas is an internationally renowned project contracting company that provides engineering design, equipment procurement and construction operations.
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