Abu Dhabi sovereign investor, Mubadala has invested in Australia’s largest urea plant, a $6.4 billion Perdaman Western Australia urea project.
Mubadala said in a statement that it will be investing alongside New York-based Global Infrastructure Partners in the plant, which is one of the largest urea fertilizer facilities in the world and one of the largest investments ever made in the Australian fertilizer industry.
The project represents the largest investment ever made in the Australian fertilizer industry, with the facility expected to produce more than two million tons of urea per annum. The plant will address the rising demand for high-quality fertilizers, reducing Australia’s reliance on imports and support the provision of food security for up to 90 million people.
The plant will incorporate the latest technology to ensure optimized energy efficiency and low emissions. In addition to displacing the import of coal-based urea, the plant will adopt clean technologies such as solar energy and green hydrogen to minimize industrial emissions and lower the carbon footprint of fertilizer production, with Perdaman, one of the world’s leading chemicals and fertilizer companies, committed to making the plant net zero by 2050.
Saed Arar, Executive Director of Traditional Infrastructure, Mubadala, commented that, “Mubadala is delighted to diversify our growing portfolio with the investment into Perdaman’s world-class urea project in Australia. 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 further noted.
