Brazil's Transpetro Postpones Construction of Four Tanks in Bahia Terminals

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Researched by Industrial Info Resources Latin America (Cordoba, Argentina)--Transpetro Bahía (Bahía, Brazil), a subsidiary of state-owned Petroleos Brasileiros S.A. (NYSE:PBR) (Petrobras) (Rio de Janeiro, Brazil), has decided to postpone and modify the project to build four tanks at two terminals in the province of Bahia, due to financial issues. The tanks would require a $28 million investment. The modified project is expected to be approved by March.

The original project included the construction of two 5,000-cubic- meter tanks in the Itabuna Terminal in December 2013. Following project modifications, the construction is now scheduled to begin in June and the tanks will now have a storage capacity of 2,800 cubic meters. The company expects construction to finish January 2015. The terminal presently has 13tanks with a total 24,000 cubic meters of refined products, and two spheres with a total 4,800 cubic meters of liquefied petroleum gas (LPG).

At the Jequie Terminal, plans called for construction of two 4,000-cubic-meter tanks, also in December 2013. Construction has been delayed until August, and the tanks will have a storage capacity of 3,500 cubic meters. The project is expected to be completed in March 2015. The terminal presently has five tanks with a total storage capacity of 20,000 cubic meters of refined products, and two spheres with a total capacity of 5,000 cubic meters of liquefied petroleum gas (LPG).

Transpetro was created in 1998 and is in charge of the administration of storage and transport of crude oil, natural gas and refined products in Brazil.

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