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21.12.2010
Bolser Signs an Contract to develop a US$ 30 million Liquid Separation Plant Project in Yapacani – Bolivia
Bolser Signs an Contract to develop a US$ 30 million Liquid Separation Plant Project in Yapacani – Bolivia
London, January 5th, 2011, 9:00am (GMT). Bolser Plc., (“BOLSER”, “Symbol: UGK.F” ISIN: GB00B3BRH871, WKN: A0Q77H) BOLSER, a leading provider of construction and maintenance of pipelines and processing plants for the oil, gas and mining industries in Bolivia, Peru and Brazil, announced that the Company has signed an Contract with Yapacani’s Major Office and the Federation of Colonizers to develop a US$ 30 million Liquid Separation Plant for Federation of Colonizers.
This project is supported in light of the current critically growing shortage of liquefied petroleum gas (LPG) in Bolivia that needs to be solved, as well as the application of the government’s economic policies designed to improve social conditions and avoid economic short comings. Additional income, more employment and sustainable development for the region will follow as the main benefits derived from the project’s execution.
After a long negotiation process an agreement to design and develop a LPG extraction plant project was signed between Bolser, the Major’s Office of the city of Yapacani, Santa Cruz - Bolivia and the Federation of Colonizer of the area. These institutions will own a significant part of the first Public Service Company in Bolivia with the participation of Yacimientos Petroliferos Fiscales Bolivianos – the state owned oil and & gas company. Bolser’s involvement will include legal support to form the Public Service Company, selection of technology and suppliers, assistance in financing structure and participation in the construction, assembly and operation of the plant.
In this US$ 30 million project, estimated to start in the 2Q of 2011, Bolser’s participation will be around 35%, which will substantially increasing its revenues by around US$. 10.5 million during the construction and assembly period that should last around 14 months. However the most important factor is that it will translate into stable long term income derived from the operation of the plant, which contractually will be part of Bolser’s responsibility in the project.
About the Company
Bolser PLC (“Bolser”,) is a UK registered publicly company with its shares listed on the Frankfurt Stock Exchange (“Symbol: UGK.F”, ISIN: GB00B3BRH871, WKN: A0Q77H) Bolser PLC owns 99% of the Bolser subsidiary group made up of 3 companies. Bolser Ltd., (Bolivian Oil Services Ltda.) was founded by the Hinojosa family and it has been in operation since 1975. The Company and its more than 300 employees has been a long time leader in the oil, gas and mining infrastructure construction industry. Bolser is a specialist in the construction and maintenance of pipelines, roads, bridges, manufacturing and storage sites of various types. The Company is known by its clients for its excellence in the application of quality, health, safety and environment systems with international standards such as ISO 9001:2000, ISO 14001:2004 and OSHAS 18001:1999. Bolser has a thorough understanding of the logistical characteristic of the region and is currently focused on participating in the expansive demand for oil and natural gas infrastructure of the Southern Cone, specifically in Bolivia, Brazil and Peru.
Disclaimer
This press release contains forward-looking statements based on beliefs of Bolser Plc management. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend", "plan" and "project" are intended to identify forward-looking statements. Such statements reflect the views of Bolser as of the date made with respect to future events and are subject to risks and uncertainties. Many factors could cause actual results to be materially different from those projected here, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services and changes in business strategy. Bolser disclaims any intention or obligation to update these forward-looking statements.
Further information can be found on the Bolser website under: www.BolserPlc.com
For Information Contact:
Email: IR@BolserPLC.com
IR-Kontakt Deutschland:
Connecting Markets GmbH
Telefon: +49 (0)69 21 65 59 10
Fax: +49 (0)69 21 65 59 11
Registered Office in England & Wales:
BOLSER PLC
2nd Floor, Vintners Place,
68 Upper Thames Street
London EC4V 3BJ, United Kingdom
UK Company No. 05140206
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London, January 5th, 2011, 9:00am (GMT). Bolser Plc., (“BOLSER”, “Symbol: UGK.F” ISIN: GB00B3BRH871, WKN: A0Q77H) BOLSER, a leading provider of construction and maintenance of pipelines and processing plants for the oil, gas and mining industries in Bolivia, Peru and Brazil, announced that the Company has signed an Contract with Yapacani’s Major Office and the Federation of Colonizers to develop a US$ 30 million Liquid Separation Plant for Federation of Colonizers.
This project is supported in light of the current critically growing shortage of liquefied petroleum gas (LPG) in Bolivia that needs to be solved, as well as the application of the government’s economic policies designed to improve social conditions and avoid economic short comings. Additional income, more employment and sustainable development for the region will follow as the main benefits derived from the project’s execution.
After a long negotiation process an agreement to design and develop a LPG extraction plant project was signed between Bolser, the Major’s Office of the city of Yapacani, Santa Cruz - Bolivia and the Federation of Colonizer of the area. These institutions will own a significant part of the first Public Service Company in Bolivia with the participation of Yacimientos Petroliferos Fiscales Bolivianos – the state owned oil and & gas company. Bolser’s involvement will include legal support to form the Public Service Company, selection of technology and suppliers, assistance in financing structure and participation in the construction, assembly and operation of the plant.
In this US$ 30 million project, estimated to start in the 2Q of 2011, Bolser’s participation will be around 35%, which will substantially increasing its revenues by around US$. 10.5 million during the construction and assembly period that should last around 14 months. However the most important factor is that it will translate into stable long term income derived from the operation of the plant, which contractually will be part of Bolser’s responsibility in the project.
About the Company
Bolser PLC (“Bolser”,) is a UK registered publicly company with its shares listed on the Frankfurt Stock Exchange (“Symbol: UGK.F”, ISIN: GB00B3BRH871, WKN: A0Q77H) Bolser PLC owns 99% of the Bolser subsidiary group made up of 3 companies. Bolser Ltd., (Bolivian Oil Services Ltda.) was founded by the Hinojosa family and it has been in operation since 1975. The Company and its more than 300 employees has been a long time leader in the oil, gas and mining infrastructure construction industry. Bolser is a specialist in the construction and maintenance of pipelines, roads, bridges, manufacturing and storage sites of various types. The Company is known by its clients for its excellence in the application of quality, health, safety and environment systems with international standards such as ISO 9001:2000, ISO 14001:2004 and OSHAS 18001:1999. Bolser has a thorough understanding of the logistical characteristic of the region and is currently focused on participating in the expansive demand for oil and natural gas infrastructure of the Southern Cone, specifically in Bolivia, Brazil and Peru.
Disclaimer
This press release contains forward-looking statements based on beliefs of Bolser Plc management. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend", "plan" and "project" are intended to identify forward-looking statements. Such statements reflect the views of Bolser as of the date made with respect to future events and are subject to risks and uncertainties. Many factors could cause actual results to be materially different from those projected here, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services and changes in business strategy. Bolser disclaims any intention or obligation to update these forward-looking statements.
Further information can be found on the Bolser website under: www.BolserPlc.com
For Information Contact:
Email: IR@BolserPLC.com
IR-Kontakt Deutschland:
Connecting Markets GmbH
Telefon: +49 (0)69 21 65 59 10
Fax: +49 (0)69 21 65 59 11
Registered Office in England & Wales:
BOLSER PLC
2nd Floor, Vintners Place,
68 Upper Thames Street
London EC4V 3BJ, United Kingdom
UK Company No. 05140206
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=GB00B3BRH871">http://www.irw-press.com/alert_subscription.php?lang=en&isin=GB00B3BRH871</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.