Mozambique Oil & Gas: No timetable for Yara fertilizer project

Fertilizer manufacturer, Yara International, is seeking partners to share the cost of constructing a $2 billion fertilizer plant in Mozambique. The company was awarded the project to build the plant at the outset of 2017 by the government.

The Mozambican government wants Yara to produce ammonia and urea from its gas output, saying the firm could produce up to 1.3 million metric tons of fertilizers annually. Unfortunately, the project has seen limited progress since awarded to Yara.

In an interview with Reuters, Svein Tore Holsether, Yara’s CEO, said that no construction timeframe has been set, but discussions on a development program were ongoing.

“The value of the project, if I use industry benchmarks, will be about $2 billion investment,” he said, adding that it was too early to say if Yara would develop the project alone.“We are working on it and time will tell what the structure will be,” Holsether added.