Bolivia, Brazil Near Deal on $1.5B Plant

Ely Times & County ^ | Alan Clendenning

[Lorianne]

SAO PAULO, Brazil - The state-owned oil companies of Brazil and Bolivia are expected to clinch a deal soon to build a $1.5 billion petrochemical complex along their border, a top Bolivian official said.

The plant would be built in the city of Puerto Suarez next to the Brazilian border in an area known as the Pantanal, the world‘s largest marshlands, said Andres Soliz, Bolivia‘s hydrocarbons minister.

Soliz said an official announcement was expected within days.

Soliz said the Morales administration also expects to finish renegotiating contracts before June with the multinational companies that have been extracting Bolivian natural gas since a mid-1990s privatization wave left YPFB without an active role in oil exploration and production

[Lorianne]

I could not make out whether this is for an extraction facility or for refining. Anyone know?

[taxesareforever]

The plant would be built in the city of Puerto Suarez next to the Brazilian border in an area known as the Pantanal, the world‘s largest marshlands

Somebody tell the greenies that a marshland is going to be developed. Ha ha ha.

[Thunder90]

Hugo Chavez had a lot to do with this.

[Eighth Street]

And from their beloved Lefty Governments...

Gov't owned and operated = disaster.

[aposiopetic]

There is a Business Week article with a little more detail. From the use of the word 'petrohemical' I had inferred that the facility would be for refining, but I agree that it is impossible to tell from what was reported.

[taxesareforever]

Maybe so but at least they are showing more initiative then the U.S.