Zuari Agro Chemicals and Ras Al Khaimah (RAK) Maritime City signed a memorandum of understanding (MoU) on Monday to set up an integrated di-ammonium phosphate (DAP) manufacturing facility in the UAE at an estimated project cost of $800 million.
The project envisages setting up of an integrated DAP unit, along with its attendant utilities, including a power plant, a private jetty and a desalination plant.
The facility is planned to be built over 400 acres in the free zone of RAK Maritime City, a release from Zuari Agro said.
The DAP plant will be a single-stream granulation plant with a capacity for producing one million tonnes of DAP per annum. With this the company is expanding its manufacturing foothold outside India, the release said.
“We welcome Zuari Agro Chemicals as part of our commitment in attracting foreign direct investments. They have made the right choice in choosing the UAE, in the Emirate of Ras Al Khaimah to expand their business”, RAK Maritime City Director of the Board Naser Bustami said.
Zuari Agro Chem Managing Director Suresh Krishnan said the company was upbeat about the project.
“Ras Al Khaimah is a vibrant, international business destination and we welcome this opportunity to invest in its growth. The project, besides further consolidating Zuari’s position in the fertiliser sector,” — PTI