06 September 2013 21:42 [Source: ICIS news]
HOUSTON (ICIS)--Construction on Yacimientos Petroliferos Fiscales Bolivianos' (YPFB) Bulo Bulo ammonia and urea plant will commence on 12 September, the state hydrocarbons company announced on Friday.
The work will be undertaken by South Korea’s Samsung Engineering, which won an $844m (€641m) contract to design, engineer and build the plant in Bolivia. Bureau Veritas Argentina will be responsible for the general oversight of the project.
YPFB anticipates that the plant will start production by October 2015 and will produce an estimated 700,000 tonnes/year of urea. Between 10-20% of capacity will be supplied to the domestic market, while the remainder will be earmarked for export.
The plant will also produce 400,000 tonnes/year of ammonia for explosives, detergents, paints, disinfectants and other industrial products.
Company officials have said the production of crop nutrients within the country will help improve agricultural productivity and increase local food security.
($1 = €0.76)
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