Colombia Abocol in $88m fertilizer expansion

06 June 2008 22:27  [Source: ICIS news]

NEW DELHI (ICIS news)--Colombia’s Abnos Colombianos (Abocol) intends to set up new nitrogenous fertilizers production facilities and upgrade existing ones at a cost of $88m (€56m), the World Bank’s private sector funding arm said on Friday.

The Washington-based International Finance Corporation (IFC) said Abocol would set up a 80,000 tonnes/year nitric acid plant and 82,000 tonnes/year ammonium nitrate solution plant at its existing production complex at Mamonal, Cartagena.

The company would also set up 100,000 tonnes/year calcium nitrate granulated plant and 25,000 tonnes/year calcium nitrate liquid plant. All four plants are slated for completion by 2009.

The company would also upgrade its existing 300,000 tonnes/year NPK fertiliser plant through the ODDA process. This would enable Abocol replace 85% of mono ammonium phosphate as intermediate with rock phosphate. The plant would produce 100,000 tonnes/year of granulated calcium nitrate as by-product.

IFC said it would consider lending $30m for part funding of the project. IFC Board of Directors is slated to consider and approve the loan application on 10 July.

It is also considering providing carbon delivery guarantee to enhance the value of approximately 1.25m carbon credits that the company is expected to generate through 2012 by abating nitrous oxide emissions from nitric acid plants.

($1=€0.64)

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By: Naresh Minocha
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