WATER PROJECTS PLANNED FOR BRAZIL'S NORTHEAST
Brazil's Pernambuco state water utility Compesawill receive 80.9mn reais (US$42.8mn) in funding from the federal government to increase potable water supply and sewerage services in the northeastern state, a spokesperson for the cities ministry told BNamericas.
"A total of four wastewater projects valued at 72mn reais and two water supply projects valued at 8.9mn reais are planned," the spokesperson said.
Tacaratu will carry out a 27mn-real initiative to expand the Caraibeiras sewerage system. Work includes building three pumping stations, 39.3km of pipeline, 2,314 building connections and a wastewater treatment plant.
The towns of Venturosa, Tacaratu and Itapetim have been allocated 24.2mn reais, 12.3mn reais, and 8.6mn reais respectively for sewerage works.
IDB'S PORT DEAL SEALED
IDB and four other banking institutions have closed a US$430mn syndicated loan deal for Brazil'sEmbraport, which is building a multipurpose terminal at São Paulo state's Santos port.
The transaction involves a 15-year, US$100mn A loan from IDB and a 12-year IDB B loan of US$330mn from Germany's WestLB, Portugal's Caixa Geral de Depositos (CGD), HSBC (NYSE: HBC) and Spain's Banco Santander, according to an IDB release.
In parallel, Brazil's federal savings bank Caixa Econômica Federal (CEF) - with funding from national development bank (BNDES) - has approved another 633mn reais (US$336mn) for the project.
The global senior debt package will go towards phase I works on the new terminal, which will have capacity to handle more than 1mn TEUs/y, as well as liquid bulk.
Embraport, the largest multi-use private terminal currently under construction in Brazil, will allow the port of Santos to receive ships with deeper drafts, as well as improving traffic conditions through new road and rail connections that will move traffic away from Santos city's urban center.
CHEVRON LICENSE IN DANGER
Chevron's (NYSE: CVN) subsidiary Chevron Brasil could lose its Frade field concession license if it fails to identify the causes and responsible parties for the oil leak, a spokesperson at Brazilian hydrocarbons regulator ANP told BNamericas.
The watchdog has suspended permission for Chevron to drill any further well in Brazil until investigation of the leak is concluded. The company is however able to carry on with production operations in the field.
The offshore Frade field produces 79,000boe/d, according to a Chevron statement.
Frade is Chevron's first operating oil field in Brazil and is in roughly 3,700ft (1,128m) of water, 370km northeast of Rio de Janeiro. The field contains an estimated 200M-300Mb of recoverable oil and produced its first crude in the second quarter of 2009.
Chevron operates Frade with a 51.75% stake, while Brazilian state-run energy major Petrobras (NYSE: PBR) holds 30% and Frade Japão the balance.
Brazil's environmental protection agency fined Chevron 50mn reais (US$27mn) for the incident.
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