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Abu Dhabi sovereign investor Mubadala has invested in Australia’s largest urea plant, a $6.4 billion Perdaman Western Australia urea project.
Mubadala said it will be investing alongside New York-based Global Infrastructure Partners in the plant, which is one of the largest urea fertiliser facilities in the world and one of the largest investments ever made in the Australian fertiliser industry.
The facility is expected to produce more than 2 million tons of urea per year, address growing demand and reduce Australia’s reliance on imports, a statement said.
Perth-based Perdaman Chemicals and Fertilisers (Perdaman) will incorporate the latest technology to ensure low emissions, adopt solar energy, and green hydrogen, committing to making the plant net zero by 2050, the statement added.
Mubadala’s fellow Abu Dhabi sovereign investor ADQ announced last month that it was buying a 49% stake in Australia’s infrastructure developer Plenary Group.
(Writing by Imogen Lillywhite; editing by Seban Scaria)
