The two companies that had shown interest in collaborating in the business also rejected the direct association. The oil company is going through a restructuring.
The alternative of National Administration of Fuel, Alcohol and Portland (Ancap) for the business of portland in Uruguay After the failure of the public tender to associate the sector with private companies, it did not come to fruition either: the “quick round” that had emerged as a possible solution for the state oil company’s loss-making business did not have a positive reception from the two companies. consulted.
Although there were companies interested in the previous stages of the bidding, in the end none of them presented themselves to the call for interest, so this route analyzed by Ancap to save what they point out as a loss-making business that fell quickly. However, also subsequent and direct consultations failed that the board of directors of the oil company carried out with the companies in question.
Among the main arguments for rejecting the business, they pointed to the need to lower the carbon footprint — which could be affected if emissions from new plants are added, something inevitable if they begin to participate in the Portland business. Ancap—; and also to the union conflict regarding the intentions of a private association for cement, according to El Observador.
What will Ancap do with Portland?
Now, the state oil company finds itself in a dilemma: on the one hand, it does not plan to close the Portland plants, since that would imply the loss of hundreds of jobs; but, on the other hand, and without the alternative of a private partner, it is obliged to maintain a non-competitive business.
In this sense, the challenge of Ancap is restructure the business, something that will include different industrial strategies for the two plants, from a corporate, structural and operational point of view. The main objective is “mitigate” lossesbut the plan would only be known during the first half of 2024.
“The restructuring involves transferring the business to the controlled companies of Ancap, and leave the public sphere, which is where we have many difficulties. (…) We want to divide the business, Paysandu with Pamacor; and in Mines and Thirty-three with Silver Cements”; the vice president of the entity had told El Observador Diego Durand.
Source: Ambito
