MumbaiZuari Agro Chemicals and Ras Al Khaimah (RAK) Maritime City on Monday signed a memorandum of understanding (MoU) to set up an integrated Di-ammonium Phosphate (DAP) manufacturing facility in UAE with an estimated project cost of $800 million. Zuari Agro Chemicals, the flagship of $3 billion Adventz Group, is a leading fertiliser conglomerate in India. The project envisages setting up an integrated DAP unit, along with its attendant utilities including a power plant, a private jetty and a desalination plant with an estimated project cost of $800 million. The facility is planned to be built over 400 acres of land in the free zone of RAK Maritime City, a company statement said here. The DAP plant will be a single-stream granulation plant with a capacity of producing 1 million tonnes of DAP per annum, the release said, adding with this project, the company is expanding its manufacturing foothold outside of India. Alpen Capital, one of the leading investment banks in the region, has been mandated as the financial advisor for the p roject."We welcome Zuari Agro Chemicals as part of our commitment in attracting foreign direct investments; they area well-known company with a solid track record in their field. They have made the right choice in choosing the UAE, in the Emirate of Ras Al Khaimah to expand their business", RAK maritime city director of the board Naser Bustami said. Zuari Agro Chem MD Suresh Krishnan said the company was upbeat about the project. "Ras Al Khaimah is a vibrant, international business destination and we welcome this opportunity to invest in its growth. The project, besides further consolidating Zuari's position in the fertiliser sector and playing a key role in the company's backward integration programme, will indeed go a long way in helping it to actively participate and grow in other global fertiliser markets," he said.