Bolivia grants urea production technology contract to Toyo
Toyo Engineering has won a urea synthesis and granulation technologies supply contract with the capacity to produce 2,100 tpd of urea for Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), a Bolivian national oil company in Carrasco, Cochabamba.
As part of the contract, Toyo will grant a technology license and also develop, design and supply set of proprietary equipment.
Toyo will provide its proprietary urea technologies to YPFB through Samsung Engineering.
The contract is part of Bolivian Government's plan to use its vast natural gas resources in the country to reduce urea imports and increase the amount of exports for the same.
Toyo's urea synthesis (ACES21) and granulation technologies will promote low utility consumption and decrease initial investment costs, according to the company.
The company has implemented ACES21 technology in eight plants and the granulation technology in 21 plants across the globe.
The contract is the first project for Toyo in Bolivia and the company hopes to expand its business in the country.
Samsung Engineering will provide EPC services for the Bolivian ammonia and urea project, which is scheduled to be launched in 2015.