10 January 2012 22:34 [Source: ICIS news]
BOGOTA (ICIS)--Peru-based Nitratos del Peru signed a letter of intent with Tecnicas Reunidas and Technip Italy for the execution of the first phase of the development of a new ammonia complex, the company said on Tuesday.
The engineering phase of the project, including production facilities for ammonia, nitric acid and ammonium nitrate, will begin immediately, the company said.
The ammonia complex will be in the Pisco province of Peru and is expected to cost about $1b (€780m), Nitratos said.
The complex is scheduled to start at the end of 2014.
The complex, the first of its kind in Peru, will provide products to the petrochemical industry and explosives companies in the mining sector, Nitratos said.
The complex will produce 710,000 tonnes/years of ammonia and 350,000 tonnes/year of ammonium nitrate, the company said.
($1 = €0.78)
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