UAE’s Mubadala will invest in USD 4.2 bn Australian urea plant

Mubadala invests in Australian urea plant: Abu Dhabi’s Mubadala Investment Company will invest an undisclosed amount in a AUD 6 bn (USD 4.2 bn) urea fertilizer project currently under development by Australian fertilizer company Perdaman, according to a statement. Mubadala said the transaction represents the largest investment ever made in the Australian fertilizer industry. US-based infrastructure investment fund Global Infrastructure Partners (GIP) is already an investor in the project.

Powered by green energy: The project aims to slash emissions by adopting solar energy and green hydrogen to power the plant in a bid to reach net zero emissions by 2050.

More on the Perdaman’s urea project: The company aims to produce 2.3 mn tons of urea annually at a site near Karratha in Australia’s northwest, around half of which is destined for export to Asia, Brazil and the US. GIP has committed to invest over AUD 2.1 bn (c. USD 1.4 bn) in the project through a strategic equity investment made last year.