21 August 2012 19:36 [Source: ICIS news]
MEDELLIN, Colombia (ICIS)--Bolivia’s YPFB will supply Brazil and Argentina with urea from the company’s new fertilizer plant in an attempt to address a shortfall in supplies, the state-owned energy firm said on Tuesday.
The urea and ammonia plant, scheduled to begin operations in the third quarter of 2015, will produce 650,000 tonnes/year of urea, with 600,000 tonnes earmarked for regional and overseas export, YPFB said.
Bolivia is already in advanced negotiations with Brazil and Argentina to supply both countries with urea, the company said.
According to YPFB, Brazil falls short of the 3m tonnes/year of urea it requires, despite imports from Russia, Ukraine and other countries.
YPFB also said that Argentina currently imports 500,000 tonnes/year of the fertilizer for its agricultural expansion program.
“Bolivia will cover a part of the supply shortfall in Brazil and Argentina,” said a spokesman for YPFB.
YPFB announced last week that South Korea’s Samsung Engineering had won a $844m (€684m) contract to build the plant.
Initial stages of construction will begin after contracts have been signed on the 12 September.
($1 = €0.81)
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