Samsung Engineering receives Bolivia fertiliser plant contract
Korean-based Samsung Engineering has received a notification of award (NOA) for a $843m fertilizer plant from Bolivian state-owned oil companyYacimientos Petrolíferos Fiscales Bolivianos (YPFB).
The new fertiliser plant will be built in Entre Rios, Cochabamba, Bolivia.
The facility is expected to manufacture 2,100tpd of urea after processing natural gas in to ammonia and urea.
Apart from providing FEED, engineering, procurement, construction and pre-commissioning services, Samsung Engineering will also provide additional operational and maintenance support for two years after completion of the facility's work in 2015.
Park Ki-Seok, Samsung Engineering president and CEO, said: "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."
The granted NOA will enable Samsung Engineering to enter Latin American market for the first time and will add to the explosive geographic growth of the company, according to Samsung engineering.