AMSTERDAM, NETHERLANDS: AkzoNobel NV said that it will invest more than €10 million in Sweden to expand chelated micronutrients capacity. These are used as essential ingredients in the agricultural market.
The project, at Kvarntorp, Sweden, will help meet growing demand for micronutrients, particularly in regions with poor soil conditions. Due to be completed next year, the expansion will primarily add capacity for high-performance iron chelates, in which AkzoNobel is a market leader.
High-performance chelates deliver essential metals to plants, helping to increase agricultural productivity. This is increasingly important as rising world population reduces the amount of arable land for food production, necessitating the cultivation of poor soils. Application by fertigation – where plant nutrients are supplied in a liquid solution – is key in this segment.
AkzoNobel has partnerships with global fertiliser companies Yara International and Sociedad Quimica y Minera de Chile SA (SQM) for worldwide distribution of its chelated micronutrients, which are also produced in Herkenbosch, the Netherlands, and in Lima, Ohio, US.
“This is an important strategic investment to support our customers and strengthen our leadership position in this market. It also underlines our commitment to sustainability and our Human Cities initiative by helping to increase agricultural yields in regions with poor soil conditions while also supporting the growing trend towards hydroponic agriculture and urban farming,” added Thierry Vanlancker, executive committee member responsible for speciality chemicals, AkzoNobel.
© Worldofchemicals News
Read More: AkzoNobel to expand micronutrients capacity; invests €10 mn
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