23 January 2008 23:29 [Source: ICIS news]
HOUSTON (ICIS news)--State-run Petrobras of Brazil and Petroperu of Peru could invest up to $1bn (€680m) together in a petrochemical complex in Peru, according to a media report released on Wednesday.
As reported by ICIS news in November, Petrobras had been seeking opportunities related to petrochemicals in South America, especially in ?xml:namespace>
Petrobras and Petroperu are partners in a natural gas project in the country.
According to a report on Wednesday by Reuters, Petroperu president Cesar Gutierrez said that the ammonia complex planned could cost between $800m-1bn with a capacity of 750,000 tonnes/year. He did not specify how much each company would invest.
Construction would not begin for two to three years, Gutierrez said.
Separately, CF Industries in December said it was committed to a $1.2bn-1.3bn ammonia/urea project in Peru following agreement on feedstock supply, according to senior vice-president for operations David Pruett.
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