A private-sector refinery project, the first of its kind in Latin America, is to get under way in Colombia in the first half of 2020, it was announced this week.
The Sebastopol Colombian Refinery, together with a 135MW power stations, a river port, an industrial park and a hydrogen production facility, is being financed by a US private investment fund called VIP Group. It will occupy a 658ha site at Puerto Berrio, about 70km east of Medellin, and when it begins operation in 2023, it will be able to process up to 150,000 barrels of crude a day.
Germán Casas, president of the Sebastopol Refinery, told Colombian newspaper La RepÃºblica that $5bn would be invested in the refinery, $400m for the power plants and around $600m for the remainder of the project.
The complex will be located on the Magdalena River, which will be used to bring in crude oil and export the finished product.
At present, two Colombian refineries, Cartagena and Barrancabermeja, produce about 95% of the country’s total liquid fuel output.
According to the newspaper, the project is being designed by global engineer Worley, formerly trading as WorleyParsons.
Image: The Magdalena River (JJP Santiago/CC BY-SA 4.0)