11 July 2012 23:43 [Source: ICIS news]
MEDELLIN, Colombia (ICIS)--Bolivia-based YPFB has received proposals from five companies for the design, engineering, construction, start-up, operation and maintenance of a urea and ammonia plant in central Bolivia, the state oil firm said on Wednesday.
Proposals were received from Korean companies Hyundai and Samsung; Spain`s Duro Felguera; Italian-Argentine consortium Saipen/AESA; and the consortium Tecnicas Reunidas/Technip, the company said.
According to YPFB estimates, the fertilizer plant, in the state of Cochabamba, will require an investment of around $1bn (€820m).
YPBF will announce its decision on 21 August, with contracts due to be signed on 11 September, the company said.
The plant will have an annual production capacity of 650,000 tonnes of urea and 400,000 tonnes of ammonia, the company said.
“Increases in production of ammonia and urea will boost the quality of domestic agricultural products and lead to more profitability,” a spokesperson for YPFB said.
“It will pave the way for more private investment and, above all, will benefit the Bolivian agricultural industry,” he added.
Operations are scheduled to begin in the final third of 2015, the company confirmed.
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