Zuari to Set up $800 mln Fertilizer Plant in the UAE

Source: Reuters 11/19/2012, Location: Middle East

Fertilizer maker Zuari Industries has signed a memorandum of understanding to set up an $800 million manufacturing facility in the United Arab Emirates. The plant in Ras al Khaimah will produce one million tonnes of diammonium phosphate fertilizer a year when it comes on stream, Zuari's adviser on the deal, Alpen Capital, said in a statement. The plant will be Zuari's first manufacturing facility outside India.

Zauri and other Indian fertilizer manufacturers import most of their phosphate from Russia and the Middle East.

Indian farms consumed about 7 million tonnes of DAP in the 2011 financial year.


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