Mubadala invests in Australian fertilizer plant currently under development: Abu Dhabi’s Mubadala Investment Company is investing an undisclosed amount in Australian chemicals and fertilizer company Perdaman’s AUD 6 bn (USD 4.2 bn) urea fertilizer project in West Australia, which is currently under construction, according to a statement. The investment was made alongside US-based infrastructure investment fund Global Infrastructure Partners (GIP), which was already an investor in the project.

A boon for food security: The project, which marks the largest investment ever made in the Australian fertilizer industry, will help increase the supply of high-quality fertilizers in response to growing demand, increase independence from imports, and bolster food security for over 90 mn people, the statement noted.

More on the plant: 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. It will incorporate solar energy and green hydrogen to replace coal-based urea imports, as well as ensure optimized energy efficiency and low emissions.

Background: GIP had committed to invest over AUD 2.1 bn (c. USD 1.4 bn) in the project through a strategic equity investment made last year.

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