Webuild's new subsidiary Clough and its joint venture partner Saipem have reached financial agreement on a €2.56 billion contract to build a urea plant in Western Australia.

The Ceres plant, owned by Perdaman Chemicals and Fertilizers, is located on the Burrup peninsula north of Karratha and can produce about 2 million tonnes of urea per year.

Urea is the most commonly traded nitrogen fertilizer. The Ceres plant will do so by converting natural gas into ammonia and then into urea. An outline agreement to build the plant was first announced in May 2022.

In February 2023, Webuild acquired the assets of Clough, including its offices, 1,100 employees and a project backlog of €4 billion. The factory will be the largest in Australia and one of the largest in the world.

Webuild CEO Pietro Salini said that thanks to this contract, Webuild entered a new and promising market segment in the production of urea at a time of growing global demand. Winning the contract confirms the strategic value of Clough's acquisition. Construction of the Ceres factory will create 2,000 jobs. Australia is Webuild's second largest market after Italy.Editor/XingWentao