CF re-affirms $1bn Peru investment

20 November 2008 23:38  [Source: ICIS news]

CARACAS (ICIS news)--CF Industries expects to invest at least a billion dollars to build an ammonia and urea plant in Peru, the company's president said Thursday, according to official sources.

"We do not know the exact amount because the studies are still being done, but we are estimating the project's investment at $1bn [€790bn]," said Steve Wilson in Lima following a meeting with Peru President Alan Garcia.

CF Industries plans to build an ammonia plant with a capacity of some 2,100 tonnes/day and a 3,300 tonne/day granulated urea plant.

Wilson also expressed satisfaction with Peru's support of the project, adding that Garcia promised his nation would assist the project however it could to make sure it comes to completion.

Peru has sought to attract companies from all over the world to invest billions into its burgeoning petrochemical sector. Opportunities in the field are sure to be a hot topic during this week's meeting of the Asia Pacific Economic Cooperation, or APEC, forum in Lima.

Officials from South Korea's SK Group will attend the meeting as a member of President  Lee Myung-bak's delegation to discuss the possibility of building an ethylene plant.

($1 = €0.79)

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By: Jasmina Kelemen
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