Spanish oil firm plans €60mln investment
Spanish oil transportation and storage company the CLH Group (CLH) says it will spend more than €60 million ($79 million) on infrastructure improvements in 2013, Ship & Bunker reports.
CLH plans to spend €41 million ($54 million) on storage improvements, along with €15 million ($20 million) on expanding its pipeline network, and more than €4.5 million ($6 million) on adding new airport facilities and improving existing ones.
Among the expenses are improvements to safety and environmental safeguards at the company's storage facilities, operational improvements, work on new facilities at the port of Bilbao and Castellanos de Moriscos (Salamanca), and continuing efforts on a line connecting a storage facility in Torrejón de Ardoz with Madrid-Barajas airport.
The company already spent more than €750 million ($989 million) between 2007 and 2011 to add 1.2 million cubic meters of storage capacity and more than 500 kilometers of pipeline.
CLH, which consists of Compañía Logística de Hidrocarburos and CLH Aviación, operates a network of more than 4,000 kilometers of pipeline, 38 storage facilities with a total capacity of 7.8 million cubic meters, and 28 airport facilities, according to its website.
It also charters two tanker vessels with a total capacity of 48,121 dead-weight tonnes (dwt) to transport fuel to the Balearic Islands and peninsular facilities.
