Latest news from Heavy Lift & Project Forwarding International Magazine

Cartagena refinery expansion on hold after finance failure

March 16 - Glencore International has failed to provide promised funding for the USD2.8 billion expansion of Colombia's second largest refinery in Cartagena.

Swiss-based Glencore was unable to secure finance to fund the original USD630.7 million offered in 2006 and the USD260 million it proposed to inject later for further expansion of the project.

 

Commercial manager at the port, Giovanni Benedetti, however, remains optimistic: "It is a big project that signifies a lot of movement of cargo. We hope that this continues and goes forward. Glencore is negotiating its exit and there is a lot of optimism for a new partner."

 

Hernan Martinez, Colombia's minister for mines and energy has offered a maximum of USD658 million for the Glencore's 51 percent stake and other minority partner, Colombian state-owned oil company Ecopetrol, has opened talks with more potential partners, among them, Brazil's state owned Petrobras.

 

 

 

 

 

 

Heavy Lift | News

Cargolux calls at Incheon thumbnail image

Cargolux calls at Incheon

July 17 - Cargolux Italia has launched a Boeing 747 service between Milan Malpensa Airport, Italy and Incheon, South Korea.
Views: 215
BigMove goes digital for licenses thumbnail image

BigMove goes digital for licenses

July 17 - BigMove – a European alliance of 13 medium-sized logistics companies – is introducing digital driving licenses for its network of 1,000 drivers.
Views: 245
ESTA joins EC best practice project thumbnail image

ESTA joins EC best practice project

July 16 - The European association of abnormal road transport and mobile cranes (ESTA) has been asked to support a European Commission study to “explore health, safety and environment (HSE) best practice in the wind power sector”.
Views: 640

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.