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LLX, the logistics company of Brazil's EBX Group, has announced that EBX Holding Ltda and BP Products North America Inc. have signed a contract to create the company MFX (Marine Fuels X), to import, export, sell and distribute marine fuels under the BP Marine brand.

MFX will be jointly controlled by BP and EBX, with each company holding an interest of 50%. In a statement, LLX said that once the final documents have been signed, the new company will begin operating in 2013, importing marine fuel and selling it to domestic clients.

BP and EBX have selected Açu Superport as the prime location to build a new facility, which will be located at the new port terminal TX2 and which, according to LLX, will have the necessary infrastructure to distribute marine fuel.

"This fuel center will meet the requirements of ships of a range of sizes and activities, such as PSVs (Platform Supply Vessels), cabotage and long distance, for fuel like MGO - Marine Gas Oil and IFO -Intermediate Fuel Oil," LLX said in a statement.

“This initiative aims to ensure companies setting up at Açu Superport have an ongoing competitive supply of high quality marine fuel for their operations. The contract will also help Açu Superport to become a hub port for marine fuel, recognized in the global market", said Marcus Berto, LLX CEO.

LLX said it will rent an area of approximately 350,000 square metres, located at the entrance of the TX2 channel, and also intends to rent 600,000 square metres at TX1, in an area that has been prepared for the construction of an oil treatment facility .

"This association reinforces BP's commitment to the Brazilian energy sector, and complements our investments in the E&P, lubricant, aviation fuel and biofuel sectors," said Luiz Figueiredo, Regional Director of BP IST in Brazil.

As a result of the joint-venture, LLX said that Açu Superport will become one of the main distribution centres of marine fuel in the South Atlantic. The new company is due to start operating after it has obtained the required licenses and permits.