Petrobras Board Clears Restart of Long-Stalled Fertilizer Plant in Mato Grosso do Sul

Overview

• Petrobras' board, which approved the restart Monday, set an estimated $1 billion budget to finish the UFN-III nitrogen plant in Três Lagoas.
• The company will finalize contracts next and plans to resume construction in the first half of 2026 with commercial operations targeted for 2029.
• The unit is designed to produce about 3,600 tons a day of urea and 2,200 tons a day of ammonia, with roughly 180 tons a day available for sale.
• Output is aimed at Mato Grosso, Mato Grosso do Sul, Goiás, Paraná, and São Paulo to ease import dependence in a market that uses about 8 million tons of urea a year.
• The project has been idle since 2015 and reentered Petrobras' strategy in 2023 before the board folded it into the 2026–2030 plan in October 2024.