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Petrobras to spend $1.5 bllion on fertilizer unit, Valor says
SAO PAULO
Petroleumworld.com, Mar 24, 2008
Petroleo Brasileiro SA, Brazil's state-controlled oil company, plans to spend $1.5 billion to build a third plant to produce raw materials for the fertilizer industry, Valor Economico newspaper reported.The plant will produce 1 million tons of urea and 760,000 tons of ammonia a year, Valor said, citing Fernando Martinez, general manager for the fertilizer unit of Petrobras, as the company is known. The plant will more than double the company's production capacity for fertilizer materials, Valor said.
Story reporting by Telma Marotto from Bloomberg
-Tmarotto1@bloomberg.net.
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