Petroquimica Rio Tercero Boosts Investments for 2014-15 after Two-Year Slump

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Researched by Industrial Info Resources (Cordoba, Argentina)--Leading South American chemicals company Petroquímica Río Tercero (Buenos Aires, Argentina) is planning to invest $23 million in 2014 and 2015, after having cancelled and suspended projects that were planned for 2012 and 2013.

At the end of 2012, the company cancelled the construction of a 32,850-metric-ton-per-year (T/yr) ammonium unit, which had a total investment of $25 million, and annulled two additional investments: $6 million in upgrades on a phosgene unit, and the construction of a nitric acid unit worth $30 million. For more information, see October 10th, 2012, article - Petroquimica Rio Tercero Cancels Ammonium Unit Construction.

However, Petroquímica Río Tercero expects to make investments throughout this year and 2015. The company plans to invest $22 million in modernizing its chlorine and caustic soda units to increase production capacity. Garo (Monza, Italy), a technology provider and constructor, is performing detailed engineering and expects to begin work on the project during the last quarter of 2014. On the other hand, a polyaluminium chloride (PAC) unit will be expanded through the second semester of 2015 to obtain a new product, which will require at least a $1 million investment.

Company officials are optimistic that the projects can be implemented on schedule, despite a lack of state investment. The projects aim to increase the natural gas supply, which is vital for the industry and the economic as a whole in Argentina.

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