Brazil Petrobras investing $1.5bn into Japanese equipment, services

16 July 2013 18:39  [Source: ICIS news]

CAMPINAS, Brazil (ICIS)--Brazil energy producer Petrobras has signed a $1.5bn (€1.2bn) contract with Japan Bank for International Cooperation (JBIC) to buy equipment and services from Japanese companies working in Brazil and outside the country, the company announced on Tuesday.

Some 60% of the money will be borrowed from JBIC, with the other 40% coming from Japanese private financial institutions, Petrobras said.

The contract follows the guidelines of a memorandum of understanding that Petrobras and the bank signed in October 2012.

At that time, Petrobras said the money would be used to finance energy efficiency projects that would allow the company to diminish its emissions.

Petrobras has not disclosed any other details about the contract.

($1 = €0.77)

By: Leo Siqueira
+1 713 525 2600

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