Toyo Wins US$359mn Petrobras Pipeline Contract

Brazil's federal energy company Petrobras (NYSE: PBR) has awarded Japanese engineering firm Toyo Engineering Corp a 40bn yen (US$359mn) contract to build a 500km gas pipeline between the towns of Catu and Pilar in northeastern Brazil, Toyo said in a statement Monday.

The stretch is part of the 3,000km Malhas project that increases the gas supply by expanding the transport network and linking Brazil's southeast and northeast regions.

The Catu-Pilar link is scheduled for completion in the third quarter of 2006 and consists of some 450km of 26-inch tubes and 50km of 14-inch tubes, Toyo said.

Including projects that Toyo won in 2002 and 2003, the new contract brings total pipelines the company is building in Brazil to 1,300km, the statement said.

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