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Pemex to spend $475 million on urea plant in Mexico

3:05 AM MST | January 17, 2014 | Natasha Alperowicz

Petroleos Mexicanos (Pemex) has announced the acquisition of Agro Nitrogenados’ urea manufacturing asset, which it plans to reactivate and revamp. The company says it will spend $475 million on the project, including the acquisition. Production at the 990,000 m.t./year urea plant, based at Pajaritos, Veracruz, is expected to start in 2015.   The deal was signed by PMI, Pemex’s subsidiary, and Minera del Norte, parent of Agro Nitrogenados. PMI plans to launch the rehabilitation and revamp of the plant. Pemex says that the plant will save $400...

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