15 November 2012 22:00 [Source: ICIS news]
LONDON (ICIS)--Mexican petrochemicals giant Petroleos Mexicanos (Pemex) on Thursday confirmed it will invest millions of dollars in the restart of an ammonia plant in Chihuahua State that was mothballed a decade ago.
The state-owned company will spend at least $13m (€10m) on the re-opening of the Camargo plant, which was built in 1967 but idled in April 2002 due to lacklustre demand for its nitrogen fertilizer.
In a short statement, Pemex said the plant - which used to produce around 164,000 tonnes/year of ammonia - would be restarted soon and 54,000 tonnes/year of its new, undisclosed capacity would be sold to a local business partner.
The remaining tonnage will be sold on the domestic market, which will reduce the country’s reliance on imported fertilizers from the Ukraine and Russia, the statement said.
($1 = €0.78)
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