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May 6, 2008

Financial reports sample-Notes to the condensed consolidated interim financial statements-Business initiatives

(Edited by freelance Chinese translator li – English to Chinese translation or Chinese to English translation services- financial report translation)

Note 4
Business initiatives(营商措施)
Acquisitions and other related initiatives (措施/举动)
In February, Yara International ASA signed a Heads of Agreement with Deepak Fertilizers and Petrochemicals for establishing a joint venture company for production and marketing of technical ammonium nitrate and specialty fertilizers(专业肥料) in India. The joint venture company will be 49 % owned by Yara. The objective of the JV is to develop the technical ammonium nitrate(专用硝酸铵) market (TAN) in India. The JV will also invest in the 300,000 MT per annum TAN plant under construction at Paradip in Orissa(奥里萨邦) on the east coast of India. The heads of agreement(协议要点/暂定协议) will be converted into a final agreement after due diligence(恪尽职守/尽职免责/适度斟酌) and the necessary company and regulatory approvals. DFPCL is listed on the Bombay(孟买) Stock Exchange (BSE) and the National Stock Exchange of India (NSE) with a market capitalization(市值) of approximately USD 250 million.

In February, Yara announced the investment in a new storage facility for dry bulk fertilizer(散装肥料) at the Port of Stockton in California. The state-of-the-art facility will allow Yara to better serve the US agricultural sector and creates a platform for growth in a prime market. Construction will begin as soon as all permits are in place(就位), and completion is scheduled for the first quarter of 2009. The project will entail(使承担/要求) a total investment of USD 21 million.

In February, Yara International ASA, the National Oil Corporation of Libya (NOC) and the Libyan Investment Authority (LIA) signed a Joint Venture Framework Agreement(框架协议) that will enable them, after final negotiations, to establish and commence the creation of the Joint Venture Company based the intentions in the Heads of Agreement signed on 25 April 2007. The planned Joint Venture will be owned 25 % by each of NOC and LIA, and 50 % by YARA. This is a strategic partnership to further upgrade and develop the existing production capacity at Marsa el Brega and to evaluate and potentially develop further fertilizer projects in Libya(利比亚). The existing operations currently produce approximately 700,000 tons of ammonia per year, of which approximately 150,000 tons are available for sale, and 900,000 tons of urea. NOC will supply natural gas and services to the new company. It is intended that Yara will contribute towards a further upgrading of the production assets including building new world scale fertilizer plants and will be appointed as the marketer of products from Marsa el Brega(马萨卜雷加) site.

Disposals(清理/处理) and other related initiatives
There were no disposals or other related initiatives in the first quarter 2008.

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