06 March 2008 22:47 [Source: ICIS news]
MIAMI (ICIS news)--?xml:namespace>
The ammonia/urea projects include:
* Construction of a 750,000 tonne/year urea plant in
Toyo of Japan and
* The Fertinitro II ammonia/urea plant at Jose, which is expected to be on stream in 2012. It will produce 750,000 tonnes/year of granular urea, with some ammonia for export. A turnkey contract has yet to be awarded.
* A joint venture with a group of Russian investors, Agrochemical Azot. Pequiven plans to build plants to produce 1.5m tonnes/year of urea and 1.1m-1.2m tonnes/year of ammonia at Guiria, on the Paria peninsula.
The plant will have about 200,000 tonnes/year of extra ammonia for export.
Pequiven has signed a letter of intent with Agrochemical Azot, which will have a 49% stake in the project. Financing is being discussed. A joint trading company will be set up to handle the output of the plants.
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