YPFB Develop Petrochemical with Credit of $1.8b

Source: www.gulfoilandgas.com 4/13/2016, Location: South America

YPFB develop the petrochemical industry in the country, for this, the Central Bank of Bolivia (BCB) YPFB gives us a credit of $ 1,800 million to finance the construction of plants Propylene and Polypropylene complex that will continue the industrialization of natural gas, thanks to the nationalization of hydrocarbons.

"Now our president of YPFB and the Minister of Hydrocarbons are instructed that the first of May as fair recognition in tribute to the workers, we will tender the construction of this large petrochemical plant in the department of Tarija , " said the president Evo Morales.

Propylene plants and polypropylene will be located in the town of Yacuiba, Tarija, will process propane, to produce 250,000 metric tons per year (TMA) of polypropylene. The product (homopolymer polypropylene) will target market, the study Conceptual Engineering: Brazil, Argentina, Peru, Bolivia and China. Between 10 and 20% will be destined for the domestic market and between 80 and 90% to foreign markets.

"Without the nationalization of hydrocarbons driven by our President Evo Morales, the development of the petrochemical industry in Bolivia it would have been an unthinkable project without the nationalization YPFB could not carry out projects of this magnitude. Today plants Propylene and Polypropylene, which will allow make way for the industrialization of gas, are a reality , "said CEO of YPFB, Guillermo Acha.

This credit is in addition to the other granted by the issuer to YPFB to finance the construction of the Separation Plant River Liquid Large (Santa Cruz), Plant Liquid Separation Gran Chaco (Tarija) Plant urea and ammonia (Cochabamba), Plant Liquefied Natural Gas (Santa Cruz), Integration Gas Pipeline Juana Azurduy (GIJA), among others, and now give a great economic benefit and energy sovereignty for our country.

PETROCHEMISTRY

Construction of Propylene and Polypropylene plants will generate, in the construction phase, more than 4,000 direct jobs and 600 indirect jobs and an average of 10 thousand indirect multiplier effect on the industry.

Plants Propylene and Polypropylene will feed propane, raw material comes from the Liquid Separation Plant "Carlos Villegas".

The plant will manufacture products based on polypropylene, generation plants, production of plastic containers, pipes, nylon, woven sacks (pouches) and bags for industrial products.

State and private industry will have access to domestic raw materials at low cost and investment and stimulate industrial development. By selling the country polypropylene us capture $ 420 million per year.

Currently, concluded the conceptual project engineering, licensing and basic engineering was initiated and the period of IPC (Engineering, Procurement and Construction) for the next 5 years is estimated. The bill passed the stage of investment and has the support of the approval of the Financial Law September 2015 instructing the BCB to YPFB credit for this project.

DATA SHEET

Project: Propylene and Polypropylene Plant
Estimated investment: US $ 1,800 MM
Start of construction: Second semester 2017
Commissioning: last quarter 2021
Location: Location Palmar Chico, municipality Yacuiba, Tarija
Product: polypropylene homopolymer
Production capacity: 250,000 MT / year of polypropylene
Raw material consumption: 1,489 MT / day of LPG
Target markets: Brazil, Argentina, Peru and Bolivia. China (EXTRAMAR)
Complementary projects: Aqueduct Villa Montes-Yacuiba, access road and railway branch.


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