Brazil’s state-owned Petróleo Brasileiro SA (Petrobras), Rio de Janeiro, on May 31 said it has begun the process once again for the sale of Nitrogen Fertilizers Unit III (UFN-III), located in Três Lagoas, in the state of Mato Grosso do Sul. Two attempts to sell the plant to Acron Group, Moscow, fell through (GM April 29, p. 30).
Petrobras said the construction of UFN-III began in September 2011 but was interrupted in December 2014, with physical progress of about 81%. Upon completion, the unit will have a projected urea and ammonia production capacity of 3,600 m/d and 2,200 m/d, respectively. The buyer is expected to complete the plant.
Petrobras hired Bradesco BBI, Osasco, Sao Paulo, as the exclusive financial advisor to sell UFN-III, according to a June 1 report by Valor International.