Brazil: Yara invests 275 million USD in Rio Grande

Yara will invest approximately BRL 1 billion (USD 275 million) in expanding and modernizing its Rio Grande plant, which is strategically located in southern Brazil, a key region in the country's growing agricultural industry. Set for completion in 2020, the investment will create one of the biggest fertilizer sites in the Americas.

"This expansion represents another step in our Brazil growth strategy, further establishing our position in Brazil as a long-term industry player, committed to developing and investing in Brazilian agribusiness," said Svein Tore Holsether, President and Chief Executive Officer of Yara.

"The project is possible thanks to the acquisition of Bunge Fertilizantes in 2013, creating further consolidation synergies through optimization, automation and de-bottlenecking of the combined assets," said Svein Tore Holsether.

The expansion project will double the site's current 800,000 tonne annual fertilizer production and blending capacity, reducing reliance on finished fertilizer imports. It will also improve health, environment, safety and quality performance, including substantially lower emissions than required by legislation.

The scope includes new warehouses, new acidulation and granulation lines, fully automated blending and bagging equipment for small (50 kg) and big (1 tonne) bags, a boiler for steam production, a wastewater treatment plant and rest areas for truck drivers. The plant already operates its own recently modernized and expanded pier, which is connected to the railway network and the industrial complex.

The facility is expected to create over a thousand direct and a further three to four thousand indirect employment opportunities, boosting the region's economy.

For more information:
Yara
Thor Giæver, Investor Relations
Telephone: (+47) 24 15 72 95
Mobile: (+47) 48 07 53 56
E-mail: [email protected]

Esben Tuman, Media Relations
Mobile: (+47) 90 50 84 00
E-mail: [email protected]
www.yara.com