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Yara signs milestone lease in USA

Yara North America , Inc. has signed a long-term lease for 50 acres of land in St. James Parish, up the Mississippi river approximately 60 miles from New Orleans.

Yara North America , Inc. has signed a long-term lease for 50 acres of land in St. James Parish, up the Mississippi river approximately 60 miles from New Orleans.
 
Yara will build and operate a 55,000 mt, state-of-the-art import fertilizer warehouse capable of handling Panamax size vessels. The deal, signed with St. James Stevedoring, is a milestone in Yara North America's growth strategy. Groundbreaking will start as soon as all permits are finalized with a completion estimated for Q1 2010.
 
The terminal will provide direct access to imported fertilizer for local markets and increased access for rail served agricultural markets in the Midwest and Eastern half of the US, including growing industrial segments. Key products will be granular and prilled urea, with expansion into bulk P and K product lines at a later stage.
 
"Yara North America is a leading importer of urea and New Orleans is the primary import geography for fertilizers in North America. The establishment of this terminal will provide our customers with increased access to imported fertilizer" says Pete Valesares, President of Yara North America.
 
"The fertilizer industry needs an infrastructure to support the rapid increase of imports in North America, which is becoming more and more dependent on imported fertilizer to satisfy a growing demand. Yara is catering to this need and showing its long-term commitment to the North American market," he states.
 
Stueve Construction Co., a recognized leader in the construction of fertilizer storage facilities, has been selected to build the terminal. St. James Stevedoring will provide stevedoring services at the facility.