Rio de Janeiro – The Brazilian Development Bank (BNDES) will provide R$ 2.2 billion (US$ 1.04) worth of funding for Petrobras to build a new nitrogen-based fertilizer manufacturing plant in.
The unit will be built in the Córrego Moeda Industrial District, in the municipality of Três Lagoas, state of Mato Grosso do Sul, and is expected to start operating in September 2014. It will help lower dependence on imports of crucial inputs to the development of Brazilian agribusiness, the BNDES informed this Wednesday (19th) via its press office.
The plant will manufacture urea targeting the domestic market, lowering imports from 66% to 39% of national demand, estimated at 4 million tonnes. The new plant will add to two other existing nitrogen fertilizer plants, located in the municipalities of Camaçari, in the state of Bahia, and Laranjeiras, in the state of Sergipe.
*Translated by Gabriel Pomerancblum
