Argentina: FFMM's New Petrochemical Investment in Santa Cruz Postponed

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Researched by Industrial Info Resources Latin America (Cordoba, Argentina)--Dirección Militar de Fabricaciones Militares (FFMM) (Buenos Aires, Argentina) recently postponed the Nitramar Project, a multi-billion dollar investment in the Santa Cruz province, which aims to secure necessary supplies for Argentina's agriculture sector. The $2 billion investment would involve the installation of a petrochemical site in La Patagonia, in the Southern region of the country, where the processing facilities and the complementary and auxiliary units are to be located.

Among the units that are scheduled to be part of the complex is a 547,000-metric-ton-per-year ammonia unit; a 438,000-metric-ton-per-year ammonium nitrate unit; and a 365,000-metric-ton-per-year nitric acid unit. This undertaking originally was planned for Punta Loyola, Río Gallegos, in the Santa Cruz province, and its completion was estimated to take place by the end of 2016. Due to political, economic and market reasons, the capital approval necessary for the implementation of this project has been postponed.

After months of delay, FFMM is evaluating the possibility for a new site for the project, although this change in location would mean the project´s basic engineering would have to be performed again. FFMM expects to have the approval for the investment by the third quarter of 2014, in order to contract the companies that would perform the detailed engineering and construction. If this new schedule for the project is successfully implemented, construction is expected to kick off through the second semester of 2015 in order to complete the construction and to begin operations by mid-2017.

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