In Ingeniero White and for 21 years there has been the plant of Profitil, producer of urea, the fertilizer that adds nitrogen to the soil and is essential for corn and wheat crops. Profertil is the fruit of marriage between YPF and the Canadian company Nutrien who decided to team up to produce granular urea fertilizer.
They invested $ 705 million at the time, which, updated, represents about $ 2 billion, if we consider investments for another 500 million dollars. This factory is one of the engines of the Bahía Blanca and economy one of the most modern in the world: annually produces 1,400,000 tons of Urea Granulata, has 362 direct employees, more than 1,500 indirect contracts and more than 850 suppliers.
It also has logistics terminals in Necochea, San Nicolás and Puerto General San Martín in Santa Fe.
YPF and Nutrien share the shares of Profertil to such an extent that they take turns every two years to manage the company.
Last week Marcos Sabelli started on behalf of YPF and replaced Federico Veller, who led him on behalf of Nutrien.
But before this expected change of course, the disagreements with Canadians. The reason is that YPF plans to start expanding the plant once and for all. It consumes $ 1,300 million for a market in great demand. And even more so now that Russia has reduced its exports due to the invasion of Ukraine.
The feasibility study for the expansion of the plant was approved at various levels and has essential social and environmental license. The intention is to double production.
Clarione learned that Canadians are reluctant to shell out their share for this investment. It emerged that the parent company did not approve the amount for such an “uncertain Argentina”.
For what they have escaped, Sabelli arrives with a mandate to hasten his comrades in the decision and in case the resistance continues. buy them the part. In Ingeniero White it is said that they would be paid with the production. “It’s a hostile purchase”, they were alarmed in a law firm.
in YPF they admit the negotiations on “excellent relations with Nutrien”. Sabelli landed with that warrant. He has so far held the position of Vice President of Strategy and Business Development for the oil company, where he developed the growth plan.
Source: Clarin
