Yara has released a statement claiming that it has ended all discussions with Arab Potash Co. (APC) regarding potential cooperation in the field of potassium nitrate through APC’s subsidiary, KEMAPCO.
Discussions were originally being held under a memorandum of understanding (MoU) dated 29 January 2018. As a result of this mutual termination, Yara claims that it will not be pursuing an ownership stake in KEMAPCO.
The parties appreciate the efforts exerted in this regard by both companies, and remain interested in exploring other mutually beneficial avenues.
Read the article online at: https://www.worldfertilizer.com/nitrogen/03082018/yara-and-apc-end-potassium-nitrate-mou-and-jv-discussions/
The partnership sees ADNOC combine its fertilizer business, ADNOC Fertilizers, into OCI’s Middle East and North Africa nitrogen fertilizer platform. ADNOC and OCI will own a 42% and 58% stake in the JV respectively.