To expand its presence in India, the world’s second largest fertilizer market, Yara International ASA of Oslo has agreed to buy Tata Chemical’s Babrala urea plant and distribution business in Uttar Pradesh, India. The deal has been struck for US$400 million. The Indian plant has an annual production capacity of 0.7 million tonnes of ammonia and 1.2 million tonnes of urea. It had a sales value worth of US$350 million and EBITDA of US$35 million for the financial year ending March 31, 2016. The plant had commissioned in 1994.