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September 25, 2008

Norwegian company to build fertiliser port terminals in Mozambique, Tanzania

A $60m investment by Yara International to build fertiliser terminals in two African ports in Tanzania and Mozambique, aims to significantly improve port efficiencies for agricultural commodities and act as a catalyst for wider agricultural growth across the region.

Improving the ports in Beira and Dar es Salaam will make fertiliser imports and infrastructure management more cost effective, efficient and competitive. Tanzania has one of the lowest uses of fertiliser in sub-Saharan Africa.

The plan is for the ports to act as regional hubs, triggering new investments along the value chain. These regional corridors will link up government, multilaterals and private sector partners to invest in broader social and economic issues including: improved rail & road networks servicing rural areas; increased agro dealer development, enhanced rural agricultural credit and greater farmer field school promotion.

Yara’s CEO Thorleif Enger said, “At the current pace, it is estimated that Africa will be able to feed less than half of its population by 2015. Business can be a principal motor for development in the agricultural sector and Yara is focused on making new investments that have the potential to catalyse growth for years to come.”

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