Ultratec to invest US$8.2mn in Petrobras contracts
Bnamericas Published: Friday, May 20, 2005
Brazilian engineering company Ultratec will invest 20mn reais (US$8.2mn) to expand its facilities this year to meet contract requirements with federal energy company Petrobras (NYSE:PBR), O Globo news service quoted Ultratec president Ricardo Pessoa as saying. The expansion will affect its shipyard in the Rio de Janeiro state where it is building part of the P-47 floating production, storage and offloading vessel (FPSO) for Petrobras. The company has also won a tender for the installation of a new coking unit at Petrobras' Replan refinery and is part of the consortium that won a US$520mn contract to build the P-53 FPSO, the news service reported. Ultratec is also interested in bidding for the refurbishment of two other Petrobras refineries, Repar and Revap, O Globo said.
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