DAR ES SALAAM PORT LAUNCHES NEW FERTILIZER TERMINAL TO BOOST AGRICULTURAL SECTOR

The Norwegian Investment Fund for Developing Countries (Norfund), has recently announced on its website the completion and official launch of the new Yara’s Fertilizer Terminal in the port of Dar es Salaam at a total investment of NOK 169 million.

The new terminal, officially launched by Norway’s Minister of Trade and Industry, Ms. Monica Maeland, is meant to make quality fertilizer more readily available and in smaller packages specialized by type.

By doing this, Yara expects to specially benefit small-scale farmers whom needed to buy it from traders without getting a high quality product and competitive prices.

Norfund, Norway’s main instrument to fight poverty in developing countries, partially financed the terminal with a NOK 40.1 million loan.

The remaining balance was assumed by Yara, the world’s largest producer and marketer of mineral fertilizers.

The terminal’s handling facility with a capacity to process 150,000 tons of fertilizer per year is not only meant to secure the supply of this product at cheaper prices, but also to support the Dar port with extra capacity since it is one of the main gateways in East Africa according to Norfund.

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