Colombia Cartagena Refinery Expansion Seen to Cost over $2.7 Bln

The expansion of Colombia's Cartagena refinery will involve investments of over $2.7 bln (1.835 bln euro), the Colombian Trade, Industry and Tourism Ministry said on August 19, 2008.

Cartagena refinery is considered one of the most important projects among the 36 free zones in the country approved over the last two years.

The expansion will increase by 100 pct its current production capacity to 165,000 barrels a day and will improve the production of high-value products through the implementation of modern technology. The refinery will be capable of producing diesel fuel with a reduced sulphur content of 10 ppm (parts per million) and petrol with a sulphur content of 30 ppm.

The expansion is also expected to create 3,500 jobs during the second half of 2010 and nearly 100 direct new jobs after the launch of the expanded refinery, projected for 2012.

Cartagena refinery is located in the Mamonal Industrial Zone near the coastal city of Cartagena, northern Colombia.

Its expansion is developed by an alliance between the Colombian state-owned oil company Ecopetrol and Swiss-based Glencore International AG.

Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 20, 2008

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