13 banks finance Bolivia-Brazil gas pipeline construction

A group of 13 Brazilian banks led by Unibanco will finance the R$ 394 mm that will be invested in the construction of a gas pipeline between Brazil and Bolivia. The credits will be loaned to Petrobras, which will pay for Confab's steel tubes. The banks and their part in the loan break down as follows: Unibanco, 25 %; BCN, 12 %; Itau, 12 %; BFB, 12 %; BBA, 8 %; Noroeste, 7 %; Bradesco, 6 %; Real, 5 %; BMC, 3 %; SRL, 3 %; ABC Roma, 3 %; Sudameris, 2 %; and Brascan, 2 %. The Conmar consortium (Confab and Marubeni) won the tender arranged by Petrobras for the supply of 440,000 tons of steel tubes. The gas pipeline construction project will demand additional investments of $ 260 mm, which will be made by Japanese and North American companies through credits granted by Marubeni and the Japanese Eximbank.