Middle East Economic Survey

VOL. LII

No 7

16-Feb-2009

LIBYA

Yara Signs $225Mn Fertilizer Agreement With NOC

Yara International signed the final agreement on 9 February to set up a joint-venture to operate the Marsa El Brega fertilizer complex, as agreed with NOC in July last year, following the approval of the required licenses under Libyan investment law (MEES, 28 July 2008). Yara will pay $225mn, the estimated value of the fertilizer assets, and handle all urea and ammonia exports from the...