Joining of forces for alcohol pipeline confirmed
Valor Econômico
Petrobras announced it approved the execution of a term of commitment for the association with Camargo Correa Óleo e Gás, Copersucar, Cosan, Odebrecht Transport Participações (OTP) and Uniduto Logística to establish a private company of authorized capital for the development, construction and operation of a multi-modal logistics system for the transport and storage of liquids, especially ethanol.
The agreement is the result of preliminary studies of PMCC Soluções Logísticas de Etanol, which has Petrobras, Camargo Correa, Uniduto and OTP as shareholders seeking the implementation of a single project for the transport and storage of ethanol. The initial capital of the new company will be R$ 100 million (US$ 58.8 million), exclusively made up of nominative common stocks, with no par value. Copersucar, Cosan, OTP and Petrobras will have 20% of interest each, and Camargo Correa and Uniduto will have shares of 10%.
"The parties will study the most appropriate corporate and tax model and within 60 days they shall define the most efficient form of association, assuring the continuance of the projects being conducted by PMCC. The association will be made through a new company or through PMCC with the admission of new shareholders", says Petrobras on a note.