NEW YORK, July 25, 2013 (GLOBE NEWSWIRE) -- INTL FCStone Inc. (Nasdaq:INTL) today announced that the investment banking division of its wholly-owned subsidiary, INTL FCStone Securities Inc., was retained as the exclusive financial advisor for Refineria Colombiana Sebastopol S.A., an industrial complex development in Colombia consisting of a heavy crude greenfield oil refinery with an initial capacity of 60,000 bpd (with a planned expansion to 100,000 bpd), a river port facility, a 125 MW cogeneration plant, and an industrial duty free zone. The complex will be located on a 313 hectare area in the department of Santander, Colombia.
Camilo Salomon, Managing Director of Infrastructure Project Finance of INTL FCStone Securities Inc., commented, "This project marks the beginning of a new era in the oil refining industry in Colombia as it is the first time that private investors have been permitted to participate in this business. Instead of competing with the government-owned refining industry, Sebastopol aims to supply a considerable number of refined products not produced domestically."
The complex's strategic location along the banks of the Magdalena River will be designated as a permanent free-trade zone. The complex has access to major export ports in the Caribbean, an extensive network of roads connecting the country, two major oil pipelines, and Ecopetrol's Distribution Centre (Ecopetrol is Colombia's state owned oil company). The complex's refinery operation will use deep conversion technology to produce high quality diesel as well as other byproducts such as jet fuel and marine fuel, and will be complementary to Ecopetrol's refinery operations.About INTL FCStone Securities Inc. INTL FCStone Securities Inc. provides trading, market making, investment banking and corporate finance services to customers around the globe. The investment banking division provides capital raising, mergers and acquisitions advisory, trade finance and bank loan syndication as well as restructuring and corporate advisory services to middle market firms in the natural resources, agriculture, financial institutions, and power generation sectors. INTL FCStone Securities Inc. (member FINRA/SIPC) is a wholly owned subsidiary of INTL FCStone Inc. (Nasdaq:INTL).
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