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

Cory moves to Ipswich office thumbnail image

Cory moves to Ipswich office

October 18 - UK-headquartered Cory Brothers has relocated its office in Felixstowe to Ipswich town centre.
Views: 283
ALE executes pit move thumbnail image

ALE executes pit move

October 18 - ALE has lifted and transported a sulphur storage facility for the Lindsey Oil Refinery in the UK.
Views: 226
Bichowski joins AMT thumbnail image

Bichowski joins AMT

October 18 - Switzerland-headquartered logistics and supply chain specialist AMT has appointed Frank Bichowski as its chief commercial and operations officer.
Views: 289

Heavy Lift Across The World

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