July 28, 2006
Pequiven and Azot sign fertilizer plants MOU

(BNamericas.com) - "Venezuela's state petrochemicals firm Pequiven and Russian chemicals company Azot have signed a memorandum of understanding (MOU) to study the construction of fertilizer plants in the South American country.

The study will look at the feasibility of building plants to produce high-value fertilizers, in particular urea, ammonia and phosphor components, Venezuela's state oil company PDVSA said in a statement.

In a first phase, one plant would be built at the El Tablazo petrochemicals complex in Zulia state and another at the General José Antonio Anzoátegui petrochemicals complex in Anzoátegui state. A third group of plants would be built in Guiria, Sucre state.

The MOU, which was signed during a visit by President Hugo Chávez to Moscow, also calls for creating joint companies. Pequiven would hold 51% and Azot the balance".