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January 17, 2011

Norwegian firm invests US$20 million in new fertilizer terminal in Tanzania

by Claude Harding

Norwegian-based global fertiliser company Yara International has announced a US$20 million investment into a new fertiliser terminal at the port in Dar es Salaam, Tanzania.

Yara says in a statement that investing in increased port capacity positions the company for the growth to come. This is a strategic step for Yara, while at the same time it is an investment at a vital point in the value chain, adding capacity to the port facilities and preparing for increasing fertiliser volumes as productivity in the agricultural sector picks up.

The company currently supplies 120,000 tons of fertiliser annually to the region. The new terminal will have a revolving storage capacity of 45,000 tons of fertiliser, which will be sufficient for its medium term requirements. The location also allows for new capacity to be added for long term requirements.

“This strengthens Yara’s long term commitment to development of Tanzania’s agricultural sector,” says CEO Joergen Haslestad.

“Through our strategic partnerships, including the one with the Tanzanian Government, we have gained a strong belief in the positive prospects of agricultural production. In the years to come the agricultural sector has the potential to be a key driver of economic growth, providing business opportunities. Tanzania stands out as a natural hub for regional growth,” explains Haslestad.

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