Brazil's Petrobras says no deal for fertilizer plant in Bolivia - Reuters

Brazil's Petrobras says no deal for fertilizer plant in Bolivia | Reuters

Brazil's Petrobras says no deal for fertilizer plant in Bolivia

A logo of Brazil's state-run Petrobras oil company is seen at their headquarters in Rio de Janeiro, Brazil October 16, 2019. REUTERS/Sergio Moraes/File Photo Acquire Licensing Rights

SAO PAULO, Oct 26 (Reuters) - Brazilian state-run oil company Petrobras (PETR4.SA) said on Thursday it has not reached any deal with Bolivia's YPFB on potentially building a new fertilizer plant in the neighboring country.

The statement in a securities filing comes a day after YPFB said the two companies were considering a $2.5 billion investment in a new urea and ammonia plant near the border between Brazil and Bolivia.

Petrobras confirmed that executives of the firm traveled to Bolivia this month for a round of meetings, but said that nothing was agreed with the state-controlled Bolivian firm.

"Petrobras executives listened to opportunities presented by YPFB representatives, but none of them were analyzed," Petrobras said. "Therefore, there is no agreement between the firms for a fertilizer factory to be installed in Bolivia."

YPFB had said in a statement on Wednesday that the proposed plant would be located in the border city of Puerto Quijarro and have the capacity to produce 4,200 metric tons per year, with investment costs to be shared by the two countries.

The Bolivian firm's vice president of operations said YPFB had presented Petrobras with general information on the project and the Brazilian firm "showed interest" in it.

Reporting by Gabriel Araujo; Editing by Steven Grattan

Our Standards: The Thomson Reuters Trust Principles.

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