Petrobras is still trying to sell its unfinished plant

The Brazilian oil and gas company Petroleo Brasileiro (Petrobras) has sent letters to a limited number of investors informing them of the terms of the sale of the Nitrogen Fertilizer Unit III plant and is awaiting responses from them.

For several years now, Petrobras has been trying to sell its Nitrogen Fertilizer Unit III, the construction of which was frozen in 2014 (about 80% of the work has been completed). Previously, Acron and Unigel interested in the deal. Unigel estimates that the Nitrogen Fertilizer Unit III will take about 18 months to be completed.

Petrobras has already invested $590 million in the construction of the Nitrogen Fertilizer Unit III. Its design capacity is 3.6 thousand tons of carbamide and 2.2 thousand tons of ammonia per day.