Petrobras withdrew from selling UFN-III (Nitrogenated Fertilizers Unit III), located in Três Lagoas (MS), to the Russian group Acron, after having announced in February advances in the divestment process that has lasted for years.
According to Petrobras, the business plan proposed by Acron made it impossible to obtain the necessary government approvals for the continuity of the transaction.
“Thus, the company is carrying out the internal procedures to close the current sales process and launch a new one as soon as possible,” he said in a statement.
In February, the state-owned company said it had reached an agreement with Acron for the contractual minutes of the sale, after the then Minister of Agriculture, Tereza Cristina, commented at an event that the purchase had been closed.
The announcement was made in February, ahead of President Jair Bolsonaro’s visit to Russia. The Brazilian ruler met with Vladimir Putin days before the start of the war in Ukraine.
The state-owned company began the non-binding phase of the sale of UFN-III in February 2020. Construction began on the plant in September 2011, but was interrupted in December 2014, with physical progress of about 80% of the works.
Once completed, the unit would have a projected production capacity of 3,600 tons of urea per day and 2,200 tons of ammonia per day, according to Petrobras data.
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