Shaanxi invests in fertilizers in Argentina

27 September 2010 23:30  [Source: ICIS news]

BUENOS AIRES (ICIS)--Chinese company Shaanxi will build a granulated urea plant in Argentina, an Argentine government source said on Monday.

“The company plans to produce 800,000 tonnes a year,” the source said to ICIS.

Tierra del Fuego Energía y Quimica - TDFEyQ - controlled by Shaanxi, will invest $670m (€496m) in the plant at Rio Grande City, in the province of Tierra del Fuego.

“Initially the company planned to invest in methanol production but then decided to reorient the investment to granulated urea,” the source said.

Construction of the plant would begin in January.

The plant is estimated to start operations in 2013.

Another granulated urea producer in Argentina is Profertil, which manufactures 1.1m tonnes/year.

($1 = €0.74)

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By: Cristina Kroll
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