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Atome May Move $665 Million Project from Paraguay Over ANDE Dispute
🇵🇾 Paraguay /Energy & Infrastructure

Atome May Move $665 Million Project from Paraguay Over ANDE Dispute

From ABC Color · () Spanish

Translated from Spanish, summarized and contextualized by DistantNews.

At a glance

News Named sources Ongoing story
  • British company Atome PLC is considering relocating its $665 million green fertilizer project from Paraguay if a satisfactory agreement with the national electricity company (ANDE) is not reached.
  • Atome emphasizes its project is the largest single industrial investment in Paraguay's history, fully financed and ready to begin construction.
  • The company warns that Paraguay could lose this significant investment, which promises substantial job creation and revenue for ANDE, to another country.

Atome PLC, a British company, has issued a stark warning that its $665 million green fertilizer project may be moved out of Paraguay if a "satisfactory solution" cannot be found with the national electricity company, ANDE. The company's CEO, Olivier Mussat, indicated that they would "carefully consider the corresponding decisions" if negotiations fail, suggesting the project could be relocated.

if we do not reach a satisfactory solution for the firm, we would review our position and carefully consider the corresponding decisions.

— Olivier MussatAtome PLC CEO Olivier Mussat admitted that the company might relocate its green fertilizer project if an agreement with ANDE is not reached.

In a statement addressing recent Paraguayan press reports, Atome reiterated its commitment to finding an amicable resolution for the green hydrogen project in Villeta. The company highlighted the project's "national strategic importance," stating it is "fully financed" and prepared for immediate construction. Atome has formally requested expedited and fair discussions with ANDE.

Atome distinguishes its investment as "the only large, real, and fully financed industrial investment in all of Paraguay." The company contrasts this with cryptocurrency mining and artificial intelligence, which it deems to have minimal or low long-term employment impact, respectively. Atome's project is designed to align with the president's goals of attracting investment to new industries and is touted as the largest individual industrial investment in Paraguay's history, projected to create 4,000 construction jobs and over 1,000 production jobs.

the only large, real, and fully financed industrial investment in all of Paraguay

— Atome PLCThe company described its green hydrogen project in Villeta as the most significant industrial investment in Paraguay.

The company estimates the Villeta project would generate over $1 billion in revenue for ANDE over its lifetime. Atome cited ANDE's own institutional mission to "contribute to the development of Paraguay and the well-being of the population" as evidence of alignment. However, this projection contrasts with warnings from ANDE technicians and former executives who calculate that a fixed tariff, as requested by Atome, could lead to losses.

contribute to the development of Paraguay and the well-being of the population

— ANDEAtome cited this institutional mission of the national electricity company to argue that its project aligns with Paraguay's development goals.
DistantNews Editorial

Originally published by ABC Color in Spanish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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