Norway’s Yara has postponed the potential sale of a minority stake in Yara Clean Ammonia (YCA), the fertiliser maker said in a strategy update on Monday.
“Timing will be postponed as the YCA project portfolio attractiveness surpasses its current market valuation, and major capital outlays are planned from 2025 onwards,” Yara said.
Yara in May last year said it was considering an initial public offering for YCA by selling a minority stake to other investors.
Canadian pipeline group Enbridge and Yara said in March this year they aimed to invest up to $2.9 billion in blue ammonia output in Texas in what would be Yara’s biggest production site.
Yara last week told Reuters it is considering two sites for a second North American project which would take advantage of U.S. subsidies and cheap natural gas to make low-carbon “blue” ammonia and export it to Europe, a senior executive said.
Source : Reuters
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