24 May 2013 18:59 [Source: ICIS news]
MEDELLIN, Colombia (ICIS)--South Korea’s Samsung Engineering will participate in the bidding process to construct an ethylene and polyethylene (PE) plant in the southern Bolivian province of Gran Chaco, Bolivia’s state-run oil company said on Friday.
According to YPFB, Samsung Engineering’s CEO Ki-Seok Park revealed the company’s plans in a meeting with Bolivian Vice President Alvaro Garcia Linera during YPFB’s Third International Oil and Gas Congress.
The bidding process will begin immediately after a conceptual engineering study conducted by Italian firm Tecnimont has been submitted in June, YPFB said.
The plant will have a production capacity of 600,000 tonnes/year of PE, and will use 756,000 tonnes/year of ethane feedstock from the nearby Gran Chaco liquids separation plant.
Operations are expected to begin in 2017, the company said.
The South Korean engineering company made its first foray into that nation's market last year following the award of an $844m (€650m) contract to design, engineer and build YPFB’s Bulo Bulo ammonia and urea plant in the central Bolivian department of Cochabamba
According to YPFB, the plant’s detailed engineering work is almost complete, and earth moving, clearing and civil works at the site will begin in July.
The plant, which will produce 650,000 tonnes/year of urea and 420,000 tonnes/year of ammonia, is on track to begin operations in the fourth quarter of 2015, YPFB said.
($1 = €0.77)
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