18 October 2013 12:58 [Source: ICIS news]
LONDON (ICIS)--Norwegian fertilizer giant Yara International on Friday said its Lifeco ammonia and urea joint venture in Libya continues to suffer from an "unstable" power supply that has reduced the North African plant's capacity utilisation by around half in recent weeks.
The Oslo-based company said in an short update accompanying its third quarter results that manufacturing operations at the Marsa el Brega plant remain impacted by on-going energy and utility issues.
"The supply of power and utilities to the site remains unstable and capacity utilisation is likely to run at approximately 50% for the time being," Yara commented.
Yara holds a 50% stake in the JV – which is situated about 700 kilometres east of Tripoli – and has a combined annual capacity of 900,000 tonnes of urea and 150,000 tonnes of merchant ammonia.
The National Oil Corporation of Libya (NOC) and the Libyan Investment Authority (LIA) each hold a 25% stake.
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