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04-10-2012

TOYO awarded a urea production technology contract from Bolivia

Toyo Engineering Corporation has been awarded a urea synthesis and granulation technologies supply contract with a capacity of 2,100 t/d for Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), Bolivian national oil company in Carrasco, Cochabamba, Bolivia.

The scope of the contract includes grant of license, development of basic design and supply of a set of proprietary equipment. The plant is scheduled to start up in 2015. Samsung Engineering Co. Ltd. (SECL) has been awarded EPC contract for the ammonia and urea project and TOYO provides its proprietary urea technologies to YPFB through SECL.

Bolivian government plans to monetize its vast natural gas resources in the country and this project is the first project in its plan which targets import substitute and export market of urea product as well as expansion of cultivation area in the country.

TOYO’s Urea Synthesis (ACES21®) and Granulation technologies promote low utility consumption and the reduction of initial investment cost, and have been successfully accepted at 8 plants for ACES21® and 21 plants for TOYO’s granulation technology worldwide. TOYO is not only a licensor for the urea technologies but has also been a world leading EPC contractor of urea plant, and is currently working for EPC projects of fertilizer plant in Venezuela and Indonesia. This is the first project for TOYO in Bolivia and has committed TOYO to expand its business in Bolivia.

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