According to the bank, the project consists of upgrades in infrastructure and equipment of two existing refineries that will improve the Company’s environmental performance and address new regulations required by local environmental legislation. Also according to the bank, as a result of the Project, harmful emissions will be significantly reduced and water and soil contamination will be avoided. NDB will support the Project through a senior, unsecured corporate loan of up to USD 200 million.
The Project’s components are divided into four sub-projects in two different refineries – REGAP (located in the municipality of Betim, in the state of Minas Gerias) and REDUC (located in the municipality of Duque de Caxias, in the state of Rio de Janeiro).
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