Vast Infrastructure and Vibra Energia sign 20-year deal for liquids terminal
By Marta Nogueira
RIO DE JANEIRO, July 19 (Reuters) -Vast Infraestrutura, a terminal operator, has signed a 20-year deal with Vibra Energia for a terminal that will be built in the industrial port complex Porto do Acu, in Rio de Janeiro, chief-executive Victor Bomfim told Reuters on Thursday.
The infrastructure deal encompasses a storage park for tanks with a combined capacity of up to 84,000 cubic meter to become Vibra Energia's main entry point for base oils used in the manufacturing of lubricants.
Vibra Energia is a large distributor and marketer of petroleum derivatives and biofuels.
With an initial investment of 300 million reais ($54.16 million), Vast Infraestrutura plans start construction in the second half of 2024, and become operational in 2025.
It would store petroleum-derived products, such as marine fuels, lubricants and biofuels.
"Brazil is a country that still has a huge lack of infrastructure," Bomfim said. "Every time you take a step like this, you end up positively surprised how much demand follows."
The deal will also allow Vibra Energia to return some tanker storage capacity it currently leases from third parties, which it said it expects to bring down costs and make import logistics more efficient.
In the next few years this could pave the way for growing the import business, considering demand for these materials was up, said Marcelo Braganca Vibra's executive vice-president of operations, logistics and sourcing.
($1 = 5.5396 reais)
Reporting by Marta Nogeira, Writing by Stefanie Schenbacher; Editing by Aurora Ellis
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