Petrobras to invest in Rio Grande do Norte
11-11-03 Brazil's state oil giant Petroleo Brasileiro (Petrobras) plans to invest $ 583 mm (EUR 506 mm) in the eastern state of Rio Grande do Norte in 2004, it was reported on November 7, 2003.
According to the company's superintendent for Rio Grande do Norte, Fernando Ricardo de Lima, the planned investments for the state should allow Petrobras to carry out all investments planned for 2004.
Lima said investment projects in the state include construction of an industrial plant for production of aviation kerosene and setting up of a natural gas production unit, called UPGN III, at the Guamare industrial complex. Lima said that the UPGN III has already been authorised and its construction should begin soon.
He added that the construction of the kerosene plant is advised by a team of Canadian specialists.
Petrobras also seeks to advance with the 340 MW Termoacu thermoelectric power project, that has been suspended for the past six months.
According to Lima, Petrobras is in talks with partnersto find a profitable solution for the project.
Source: Internet Securities, Inc.
