Deepak Fertilisers inks JV with Norway's Yara for ammonium nitrate

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New Delhi, Feb 6 (UNI) Deepak Fertilisers and Petrochemicals Corporation today said the company has signed a joint venture agreement with Yara International ASA to produce and market ammonium nitrate and speciality fertilisers in the country.

Deepak Fertilisers will hold 51 per cent stake in the JV and the balance will be held by Yara International, which is a 14 billion dollars Norway-based global leader in ammonia, speciality and bulk fertilisers and ammonium nitrate, industrial gases and other diversified chemical and pollution control products, the company said in a statement.

The agreement will be converted into a final agreement after a due diligence and the necessary company and regulatory approvals.

The JV's objective is to bring value addition and deeper knowledge, leading to better market economics for domestic customers and will also review opportunities for production, marketing and import of speciality fertilisers in Maharashtra and Gujarat.

UNI AK SG DS1640

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