(Petrobras, 21.Nov.2019) — Petrobras signed with Proquigel Química S.A., a company of Unigel Group, lease agreements of its fertilizer plants in Bahia (Fafen-BA) and Sergipe (Fafen-SE), for the total amount of R$ 177 million for a period of 10 years, renewable for the same term.
Leases will become effective upon approval by the Administrative Council for Economic Defense (CADE) and the issuing of mandatory operation permits for Proquigel Química.
The units leasing process followed the provisions of Federal Law 13,303/2016 (State-Owned Companies Law).
This transaction is in line with the portfolio optimization and the improvement of the company’s capital allocation, aiming at creating value for our shareholders.
Fafen-BA is a nitrogen fertilizer unit located at the Camaçari Petrochemical Complex in the state of Bahia, with a total urea production capacity of 1,300 tons/day. It also sells ammonia, carbon dioxide and automotive liquid reducing agent (Arla 32).
Fafen-SE, located in Laranjeiras, in the state of Sergipe, has a total urea production capacity of 1,800 tons/day. It also sells ammonia, carbon dioxide and ammonium sulfate.
Unigel is a 100% Brazilian company and one of the largest petrochemical companies in the country, operating in the styrenics, acrylics and fertilizers businesses. It has industrial units in Brazil and Mexico and its client base include multiple industrial segments, such as: pulp and paper, textiles, electronics, packaging, home appliances, construction, automotive, agribusiness, mining and chemicals, both operating in Brazil and abroad.
Proquigel is a subsidiary of Unigel, whose main product lines are: acrylonitrile, methacrylate, mining products and fertilizers, being the largest national producer of ammonium sulfate.