13 August 2012 23:58 [Source: ICIS news]
MEDELLIN, Colombia (ICIS)--South Korea’s Samsung Engineering has won an $844m (€684m) contract to build a urea and ammonia plant in central Bolivia, Bolivia’s state-owned oil company YPFB said on Monday.
Five international companies presented proposals in June to YPFB. Two companies – Samsung and Spain’s Duro Felguera – made the final shortlist.
“It is good news for Bolivia, and for Bolivian industry,” YPFB said. “For the last 40 years, Samsung has been the key player in the construction of chemical fertilizer plants.”
YPFB estimates that the plant, located in Carrasco province in the department of Cochabamba, will produce 650,000 tonnes/year of urea and 400,000 tonnes of ammonia.
Urea will be produced for fertilizers and animal feed, and ammonia for explosives, detergents, paints, disinfectants and other industrial products, the company said.
“Urea and ammonia production will improve the productivity of Bolivia’s agricultural sector, stimulate regional development and promote food security,” YPFB said.
Initial stages of construction will begin after contracts have been signed on 12 September, the company said.
Operations are scheduled to begin in the third quarter of 2015, the company confirmed.
($1 = €0.81)
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