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Comment Business & Economics

Samsung Engineering signs contract for urea plant in Bolivia  

By Gerald Ondrey |

Samsung Engineering Co. (Seoul, Korea; www.samsungengineering.co.kr) signed its first Latin American contract at an official ceremony with Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), Bolivia’s state-owned oil company. Joining the historic event was Bolivian President Evo Morales, YPFB President Carlos Villegas, and Samsung Engineering’s President JaeyouL Kim. The $843-million fertilizer plant will be built in the state of Cochabamba, Bolivia, in the city of Entre Rios. The plant is slated to produce 2,100 ton/d of urea after processing natural gas to ammonia and urea. Urea, widely used in fertilizers for agriculture, is expected to increase Bolivia’s cultivation area from 2.5 million hectares to 105 million hectares. Samsung Engineering is responsible for the FEED, engineering, procurement, construction and pre- commissioning on a lump-sum turnkey basis with completion set for 2015. In addition, operation and maintenance support will continue for two years after completion.  
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