According to Reuters article published on December 1, 2022, Brazilian fuel distributor Vibra Energia (VBBR3.SA) expects to invest up to 400 million reais ($77 million) annually in fuel import infrastructure in the coming years, a top executive told Reuters on Wednesday.
The plan comes as the company bets on the growth of Brazilian demand for diesel and gasoline, and as state-run oil company Petrobras (PETR4.SA) retreats from its historic role as the market's sole supplier, said Marcelo Braganca, Vibra's executive vice president of operations, logistics and supply.
The investment, which would add to the approximately 1 billion reais spent on fuel import infrastructure in the last three years, will be directed mainly to the Brazilian coast, the executive said.
"We have been investing in our own bases, which we already had on the coast, to improve capacity for receiving ships and storage, but we are also very active in port auctions conducted by the government," Braganca added.
($1 = 5.2077 reais)
