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FINANCIAL NEWS
UAE’s RAK Maritime City, India’s Zuari in USD800m deal
19 Nov 2012
(MENAFN) India’s Zuari Agro Chemicals’ Limited managing director, Suresh Krishnan, announced that his company signed an USD800 million agreement with Ras Al Khaimah (RAK) Maritime City to build a fertilizer manufacturing plant, reported Arabian Business.
Krishnan said that the diammonium phosphate (DAP) manufacturing plant would be located in RAK Maritime City.
The facility would comprise a power plant, private jetty, in addition to a desalination plant.
The plant, which would be established over 400 acres of land in the free zone, will be a single stream granulation plant with a production capacity of 1 million tons of DAP a year.
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