UAE – Mubasher: Mubadala Investment Company and US-based Global Infrastructure Partners have injected AUD 6.40 billion ($4.20 billion) in a major urea fertilisers plant in West Australia.
The project, implemented by Perdaman, an Australian chemical and fertilisers company, is anticipated to produce over two million tonnes of urea annually, according to a press release.
The fertiliser plant aims to meet the growing demand in Australia, reducing reliance on imports and bolstering food security for up to 90 million people.
Incorporating cutting-edge technology for energy efficiency and emissions reduction, the plant will utilise clean technologies like solar energy and green hydrogen.
Perdaman pledged to achieve net-zero emissions for the plant by 2050.
Saed Arar, Executive Director of Traditional Infrastructure at Mubadala, said: “The investment aligns with Mubadala’s responsible investing mandate, supporting national and regional food security ambitions while reducing the carbon footprint of urea production."
“Building on our long-standing relationship with Global Infrastructure Partners, we are excited to support Perdaman on its impressive and sustainable growth – with a focus on delivering projects that bring benefits to local communities and mitigate the impact of climate change,” Arar added.
In March 2024, Mubadala fully acquired the biopharmaceuticals platform KELIX bio.
