01 July 2011 08:38 [Source: ICIS news]
SINGAPORE (ICIS)--PETRONAS Chemicals expects to become one of the top urea producers in southeast (SE) Asia, with its plan to build a 1.2m tonne/year plant at ?xml:namespace>
Construction of the $1.5bn (€1.04bn) plant at Sipitang, Sabah, will begin in the second quarter of 2012, with the start-up targeted in 2015, the company said in a statement released to
"The completion of the new plant will potentially make Petronas Chemicals the second largest urea producer in SE Asia," the official told ICIS.
Upon completion of the new project, dubbed Sabah Ammonia-Urea plant project (Samur), PETRONAS Chemicals’ total urea capacity will be 2.6m tonnes/year, it said.
PETRONAS Chemicals currently runs two urea plants – a 750,000 tonnes/year unit at Bintulu,
Its Gurun plant suffered a minor production hiccup due to gas supply problems and was shut down for one and a half days last week, but is currently running at full rates, company sources said separately.
Urea prices in Asia jumped to $540/tonne FOB (free on board)
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Buying ideas across the region are generally around $510-520/tonne CFR (cost and freight), which is deemed unworkable considering current
Additional reporting by Gabriela Wheeler
($1 = €0.69)
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