Ultrapar foresees to invest R $ 1.48 billion in 2014

The Group yesterday released its market Ultrapar investment plan for this year. The São Paulo business conglomerate reported that intends to disburse about $ 1.48 billion in 2014, excluding potential acquisitions, with most of that going to the Ipiranga network investment, reaching R $ 886 million.
According to the company, the goal is to keep the pace of expansion in gas stations and related franchise networks, primarily in the Midwest, Northeast and North of the country. For this purpose, will be allocated $ 366 million. Other r $ 400 million will go to renewal of contracts and reforms of units, R $ 121 million to expand the logistics infrastructure and $ 885 million for property, plant and equipment and intangible assets.
Oxiteno, specialty chemicals, will receive the second-largest contribution-$ 244 million. The investments will focus on the potential growth of capacity in Pasadena, in the United States, and at the end of the expansion of operations in Coatzacoalcos, Mexico. The improvements in the Mexican business must begin in 2014 and add 30 thousand tons per year capacity. Oxiteno is the Ultra group company that operates in the petrochemical production of elements used in cosmetics, detergents, packaging and others.
The investment plan will include also Ultragaz, which distributes natural gas and one of the leaders in the LPG sector. Will be invested R $ 184 million to build a base of traffic jam in São Luís, in Maranhão, in spare and purchase of containers and in the UltraSystem, bulk delivery.
In Extrafarma, network of pharmacies acquired by the group in October for $ 1 billion, the expectation is of capital expenditure of $ 67 million over 2014. These resources will be earmarked for opening of approximately 70 new stores, the expansion of the infrastructure maintenance and drug retailer of current activities.
The Company also reported that plans to invest $ 60 million in upgrading and adequacy of existing terminals and expansion of Itaqui, which probably will be in operation during the next year. Both operations belong to Ultracargo.