OilVoice - Petrobras Announces Acquisition of a Plant in Bahia

Petrobras Announces Acquisition of a Plant in Bahia

Saturday, August 28, 2010

Petróleo Brasileiro S.A - Petrobras announces that, through its wholly-owned subsidiary Petrobras Biocombustível - Pbio, it has acquired 50% of the joint stock of Bióleo Industrial and Comercial, for R$15.5 million .

Bióleo is an oil extraction plant located in Feira de Santana, state of Bahia, with capacity to process 130,000 tons of grains of several types of oilseeds. The unit has installed capacity to store 30,000 tons of grain and tankage for 10 million liters of oil.

The control of the company will be shared among Petrobras and the other partners, who remain with a 50% stake in Bióleo. The agreement also provides for investments of R$6 million for operational and HSE (Health, Safety, and Environment) improvements to be disbursed equally by the partners.