Victor Bomfim, the chief executive officer of Vast Infraestrutura (a terminal operator), announced on Thursday that Vibra Energia had signed a deal for a 20-year terminal to be built at Porto do Acu in Rio de Janeiro.

Vibra Energia will use the storage park to receive base oils for manufacturing lubricants. The capacity is up to 84,000 cubic meters.

Vibra Energia, a major distributor of petroleum derivatives as well as biofuels.

Vast Infraestrutura, with an initial investment in 300 million reais (54.16 millions dollars), plans to start construction in 2025 and become operational by the second half.

The storage would be for petroleum-derived products such as marine fuels and biofuels.

Bomfim stated that Brazil still suffers from a severe lack of infrastructure. "Each time you make a move like this, the demand that follows is positively surprising."

Vibra Energia will also be able to return tanker storage space it has leased from third parties. It expects this to reduce costs and improve import logistics.

Marcelo Braganca Vibra’s executive vice president of operations, logistics, and sourcing, Marcelo Nogeira, stated that this would pave the path for growth in the coming years, given the demand for these materials. $1 = 5.5396 Reais (Reporting and Writing by Marta Nogeira; Editing by Aurora Ellis).