IHI and Yara Clean Ammonia agree to jointly assess clean ammonia business collaboration

IHI Corporation has concluded a memorandum of understanding with Yara Clean Ammonia Norge AS to jointly assess potential collaboration in the clean ammonia value chain, according to the company's release. The latter company is a subsidiary of Norway’s Yara International ASA, the world’s largest nitrogen-based fertilizer manufacturer.

The Yara Group leads the world in producing, selling, and transporting ammonia by sea. Under this agreement, the two companies will explore ways to enhance marine transportation of clean ammonia that IHI intends to procure from India and other countries. They will also assess setting up a collaborative international ammonia transportation system to accommodate supply fluctuations and develop a clean ammonia production business.

IHI will cater to projected demand growth for clean ammonia by leveraging its leading global position to build a value chain encompassing everything from production to supply to end customers.