Thyssen gains approval to build refinery in northern Brazil

Germany's Thyssen Rheinnstahl Technik GmbH has won formal approval to build a $1.8 billion, world-class grassroots refinery in northern Brazil. Thyssen's plans were disclosed earlier this fall (OGJ, Sept. 14, 1998, p. 33). David Zylberstajn, executive director of Brazil's National Petroleum Agency (ANP), granted permission to the German conglomerate to build the refinery in the northern state of Ceara, in partnership with the state government. This is the first major grassroots downstream investment in Brazil since Congress passed a deregulation law in August 1997 that ended the 44-year monopoly of Petroleo Brasileiro SA (Petrobras) in the upstream...

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