• Submitted by: manso
• Business and Economy
• 08 / 08 / 2010

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Cuban workers are building a 1.8 million barrel crude-oil storage facility near a supertanker terminal in the northern port city of Matanzas, official newspaper Trabajadores reported.

The article didn’t say what the purpose of the storage facility is. Several oil companies are beginning exploratory drilling near Matanzas, both offshore and near-shore, in 2011.

According to Trabajadores, the three tanks are going up close to the site of a planned refinery. Earthmoving on that billion-dollar project by a Cuban-Venezuelan joint venture is underway, according to previous press reports.

The $4.5 million storage facility under construction is ahead of schedule, according to Trabajadores, with completion anticipated before the second half of 2011. Construction crews are working double shifts and get paid in convertible pesos.

Work is done by an unidentified joint venture construction company, under the supervision of a foreign engineering firm.

Source: www.cubastandard.com/