Petrobras, YPFB to Invest in Bolivian Fertilizer Plant
- Companies are studying $2.5 billion investment in urea plant
- Prates says Bolivia, Venezuela moves make ‘geopolitical sense’
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Brazilian oil giant Petroleo Brasileiro SA and Bolivian state energy producer YPFB are planning a $2.5 billion joint investment to build an ammonia and urea plant in Puerto Quijarro, near the countries’ border.
Brazil consumes 80% of Bolivia’s current fertilizer output, and the plant is expected to produce 4,200 tons per day, said YPFB, formally known as Yacimientos Petroliferos Fiscales Bolivianos. The discussions were unveiled by YPFB in a statement Wednesday after a Petrobras delegation visited the country last week.