CF Industries to Start Peru Petrochemical Project

US fertiliser producer CF Industries will begin construction on the Peru Petrochemical Project in the first half of 2010.

The project, estimated to require investments of about $2bn, will be the company's first investment outside North America, Reuters reports.

The plant will produce 930,000t/y of ammonium nitrate, which will be turned into 1.3 million tonnes of urea and will serve domestic and export markets.

CF is in talks with the World Bank, Inter-American Development Bank and the investment bank MBA Lazard to finance half of the project cost.

Construction is expected to be completed by the third quarter of 2013.