25 October 2011 16:42 [Source: ICIS news]
HOUSTON (ICIS)--Brazil-based conglomerate EBX Group had no immediate comments on Tuesday regarding a $3bn (€2.2bn) nitrogen complex it plans to build with Egypt-based Orascom Construction Industries.
The two plan to build the complex as a joint venture at the port of Acu, the companies said. The port is being developed in the state of Rio de Janeiro by LLX, the logistics arm of EBX, the companies said.
The complex will have a capacity of up to 3m tonnes/year. The companies did not say did not say when production could start.
Feedstock natural gas for the project will be supplied by OGX, the oil-and-gas subsidiary of EBX Group, the companies said.
The proposed fertilizer project is the latest to be announced in Brazil, which has a large trade deficit in fertilizers.
During the first nine months of this year, output totalled 7.2m tonnes, while imports totalled 14.9m, according to the Fertilizer Distribution Association.
($1 = €0.72)
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