Itau Provides $370M Loan For Colombian Oil Terminal Project

Law360, New York (October 16, 2013, 5:46 PM EDT) -- Pacific Infrastructure Corp. has secured a $370 million construction loan from Brazilian lender Itau BBA SA for its multipurpose crude oil terminal development on the northern coast of Colombia, the law firm representing Itau announced Wednesday.

Itau, a subsidiary of Itau Unibanco, will provide the loan for constructing the Puerto Bahia port facility and terminal. The project is being developed by Pacific Infrastructure, whose largest shareholder is independent Colombian energy giant Pacific Rubiales Energy Corp. 

The terminal will have an initial storage capacity of 3 million...
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