Márcia Wonghon
Reporter - Agência Brasil

Recife - President Luiz Inácio Lula da Silva gave assurances today to the governor of Pernambuco, Jarbas Vasconcelos, that, in August, he and the President of Venezuela, Hugo Chaves, will announce the details of the construction of a Petrobrás oil refinery in partnership with the Venezuelan Petroleum Company (Pedevisa).

The refinery, which will process heavy crude, will have a daily production capacity of between 200 and 250 thousand barrels. The initiative, which represents an investment of US$ 2.5 billion, will generate 10 thousand jobs during the construction phase, which is expected to take two years. The enterprise will be installed in the Suape Industrial and Port Complex, on the Cape of Saint Augustine, in the metropolitan area of Recife, in Northeastern Brazil.

Translation: David Silberstein