Acron to create a joint venture in Bolivia
Acron Group and Yacimientos Petroliferos Fiscales Bolivianos (YPFB) are determined to sign an agreement to establish a joint venture Borus Fertilizers to sell mineral fertilizers. As announced in the YPFB press release, Acron Group will hold a 50% stake in the joint venture, and YPFB – 49%.
Acron Group is holding talks with state-run oil company Petroleo Brasileiro – or Petrobras – for the potential acquisition of the latter’s unfinished plant Nitrogen Fertilizer Unit III with a capacity of 800 million tons of ammonia and 1.3 million tons of urea per year.
In December 2017, Petrobras declared its intention to sell Nitrogen Fertilizer Unit III. In March 2018 the company announced its intention to stop works on the plant, but then in the same month rescheduled its suspension for four months, and later in November the closing down was postponed till January 2019.