NRZ has signed a binding, long term offtake agreement with Daelim Co Ltd (“DL Trading”) (a 100% subsidiary of Daelim) for 500,000 tonnes of granular urea per year.
Major milestone with 50% of the initial annual production target now contracted to NeuRizer’s long-term strategic partner and significant shareholder for the first five years of operation
- DL Trading will purchase 500,000 tonnes of granular urea per annum from NeuRizer at an index linked price
- Agreement is for a term of an initial five years with an option to extend by mutual agreement
- Take or pay agreement
Read the full release here