Yara Vows to Control Spending Amid Unease Over US Project

Fertilizer giant Yara International ASA sought to assuage investor concerns that capital spending could balloon as it seeks to expand ammonia production in the US.

“The company will maintain strict capital discipline, prioritizing US ammonia development subject to final investment decision,” the Norwegian firm said Friday ahead of an investor day in Oslo. Yara’s planned $2 billion US investment fits within average annual spending levels, it said.