Odebrecht reduces P-51 offer
Bnamericas Published: Tuesday, December 16, 2003
Brazilian construction group Odebrecht has reduced its offer to build the P-51 oil platform for federal energy company Petrobras to US$717mn from US$1bn because of local tax exemptions, Agencia Estado reported. The government of the southern state of Parana granted US$190mn in ICMS tax exemptions because the platform would be built there. Odebrecht and Italy's Saipem are bidding together. Odebrecht's offer is US$12mn cheaper than Fels Setal's latest, Agencia Estado reported. Fels Setal had to increase its offer to US$729mn from US$700mn because it needed to invest in the expansion of its facilities. The initial bids, offered in August 2003, for the construction of the P-51 platform were: Fels Setal and Technip - US$701.2mn Odebrecht and Saipem - US$1.02bn Samsung - US$1.2bn
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