Qatar Fertiliser Company (Qafco) and Incitec Pivot ltd have signed a new agreement for the export of urea to Australia. Under the new deal, which was signed last week on the sidelines of International Fertiliser Association (IFA) conference in Kuala Lumpur, Qafco will export 500,000 million tons of urea per annum to Eastern Australia, thereby ramping up its share in the Australian urea market to 43 per cent.
This contract is the second long-term contract to Australia. Furthermore Qafco had also signed couple of other contracts this year to European and New Zealand markets, a news release issued by Qafco said yesterday.
Qafco Managing Director, Khalifa Al Sowaidi said the agreement for export to Australian market is in line with Qafco’s long term strategy to augment the company’s share in the existing and potential market, in order to ensure outlets for Qafco’s production of 3 million metric tons per annum and its new expansion of Qafco-5 which is set to add another 1.1 million MT of urea to the current figure in the near future, reinforcing Qafco’s position as the largest single site producer of urea in the world.
The agreement was signed in a Ceremony held in Kuala Lumpur last week by Khalifa Abdulla Al Sowaidi, Qafco Managing Director and Daryl Roe, Executive General Manager, Commercial of IncitecPivot, Australia. The function was also attended from Qafco side by Yousef Jeham Al-Kuwari, Marketing Manager and Yousef Mansoor Al-Mansoori urea Sales Manager; and from Incitec Pivot side by Daniel Wise, Commodities Leader and James Whiteside, Sourcing Manager