Venezuela Pushes Fertilizer Plant Sale in Challenge to Colombia
- Sale would be win for Maduro but may raise prices in Colombia
- Colombia’s Nitrofert has said it’s interested in the plant
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Venezuela’s Nicolás Maduro is moving ahead with plans to sell a key fertilizer plant in Colombia in a quest to shore up revenue for his country’s ailing economy, squaring him against President Gustavo Petro.
Venezuela’s petrochemical company, Pequiven, is helping prepare the sale, according to people familiar with the plans who asked not to be named because the discussions are private. One possible buyer is Nitrofert Ltd., which is interested in buying some of the company’s assets in Colombia, Chief Executive Officer Jorge Pacheco said in an interview with La República earlier this month.