Sunday, April 20, 2014

Bolivia: Samsung Urea, Ammonia Plant Scheduled to Begin Operating in 2016

According to The Latin American Tribune, the urea and ammonia plant being constructed by South Korea’s Samsung in central Bolivia will begin operating in 2016, President Evo Morales said on Saturday (April 19).

The $862.5 million petrochemical plant in the city of Entre Rios is the biggest investment project in Bolivia’s history.

Morales was accompanied on his tour by Carlos Villegas, the CEO of state-owned energy company YPFB.

COMMENT: About 80% of the urea produced by the plant will be exported and the remaining 20% will be used domestically.

The plant will render Bolivia self-sufficient in fertilizer production.

The Andean nation currently imports all fertilizer for its use.

The Entre Rios plant is expected to produce 756,000 metric tons of urea annually and will consume an estimated 1.4 million cubic meters per day of natural gas.