Brazil bank grants loan for Petrocoque co-generation unit

13 March 2013 22:52  [Source: ICIS news]

MEDELLIN, Colombia (ICIS)--Brazil’s development bank BNDES said on Wednesday it has granted petrochemical firm Petrocoque a Brazilian reais (R) 67.6m ($34.4m, €26.5m) loan for the start-up of an energy co-generation unit.

The facility in the Cubatao, Sao Paulo, will transform thermal energy accumulated during the process of petroleum coke calcifying into electrical energy via an 18-megawatt (MW) turbogenerator.

Petrocoque will use around 4 MW of the unit’s output, while the remainder will be transferred to the national interconnected power grid and sold, the bank said.

According to BNDES, around 60% of the loan will be used to buy equipment, and 40% earmarked for construction of the unit.

The project will generate around 250 jobs, with operations expected to begin in January 2015, the bank said.

Sao Paulo-based Petrocoque produces calcined petroleum coke (CPC) from green petroleum coke (GPC), a raw material it receives from state energy company Petrobras.

CPC is used in the aluminium, steel and titanium smelting industries.

($1 = R1.96, $1 = €0.77)

By: Simon West

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