Japan’s Marubeni Willing to Invest $2 Billion in Bolivia Refineries

LA PAZ – Japan’s Marubeni is willing to invest $2 billion to build a refinery complex in Bolivia’s highlands, the official ABI news agency reported.

Marubeni and state-owned Yacimientos Petroliferos Fiscales Bolivianos, or YPFB, plan to sign an agreement covering the construction of the refineries, which will allow the Andean nation to cut its gasoline imports.

The refinery complex will have the capacity to process 90,000 barrels per day (bpd) of crude.

“In principle and under an agreement in principle, YPFB would control 100 percent of the project, but the door has been left open for Marubeni to hold a small stake not to exceed 15 percent,” ABI reported, citing a document from the state-owned oil company.

Marubeni executives plan to visit Bolivia later this month to discuss the agreement, ABI said, adding that a Japanese development bank was willing to finance the project with a 40-year loan.

Marubeni, one of Japan’s largest trading companies, has operations in a broad range of industries, including energy, chemicals, food, forestry products, transportation equipment, real estate and finance. EFE

Source: Latin American Herald Tribune

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