Fertilizer Plant Samsung Engineering Enters Latin America With Bolivia Fertilizer Plant
Samsung Engineering Co., Ltd announced on Tuesday that it had received a notification of award (NOA) for an US $ 843 million fertilizer plant from Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), Bolivia’s state-owned oil company.
The bolivian fertilizer plant is a historic project order for Samsung Engineering as it marks its first entry into Latin America. The fertilizer plant will be built in the state of Cochabamba, Bolivia, in the city of Entre Rios.
The plant is slated to produce 2,100 tons per day of urea after processing natural gas to ammonia and urea. Urea, widely used in fertilizers for agriculture, is expected to increase Bolivia’s cultivation area from 2.5 million hectares to 105 million hectares.
Samsung Engineering is responsible for the FEED, engineering, procurement, construction and pre- commissioning on a lump-sum turnkey basis with completion set for 2015. In addition, operation and maintenance support will continue for two years after completion.
President and CEO Park Ki-Seok expressed, “We are determined to share our expertise executing fertilizer plants by successfully completing the project on time and safely and thereby contributing to Bolivia’s economy.”