CORDEX to Construct a 650,000 Barrel Marine and Asphalt Terminal in Central Chile.DENVER--(BUSINESS WIRE)--May 13, 1996--CORDEX PETROLEUMS (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : CZX.A) CORDEX has executed an agreement with Puerto Ventanas, a privately owned port in Central Chile, to construct a marine fuel and asphalt terminal at the facility. CORDEX is in the process of securing final permits for construction. This 650,000 barrel facility will constitute the only marine fuel and asphalt terminal on the coast of Chile. Accordingly, from a competitive standpoint, the terminal is well-positioned to become a leading fuel and asphalt handling facility on the Pacific coast of Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. . Total costs relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc Purerto Ventanas are estimated at approximately U.S. $29 million. The project promises an attractive return on investment, enhanced by the high component of tangible property tangible property n. physical articles (things) as distinguished from "incorporeal" assets such as rights, patents, copyrights, and franchises. Commonly tangible property is called "personalty. eligible for debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay . CORDEX intends to operate the fuel terminal, and is currently engaged in discussions with potential partners and leaders in Chile, North America, and Europe. CONTACT: CORDEX Petroleums Inc. Charles Cavness, 303/297-2016 ext. 123 |
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