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Brazil Steps into the Gap - Announces Multi Million Dollar Investment in Cuban Logistics
Brazil will invest US$300M into the Cuban Port of Mariel. The investment is being spearheaded by Brazil's State Petroleum giant Petrobras.
US$110M will be disbursed immediately, to help with Port refurbishment, and the building of a connecting highway and railroad. The entire multi year project is estimated to cost US$2B.
Petrobras was recently awarded an oil exploration tract off Cuba's shore.The Port will be fitted to service the offshore oil industry, and vessels from all parts of the world, including the USA.
Source: Reuters
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