The company has offered to sell the land to the government for a consideration of BRL350m ($173m) and use the proceeds to continue operations at the refinery.
Rio de Janeiro government is planning to shut down non-state owned refinery and use the land to develop a public housing.
The state government is also planning to close down the Manguinhos’ refinery as part of its plan to urbanize the area ahead of the 2014 Football World Cup and 2016 Summer Olympics.
Manguinhos is planning to meet the government officials regarding the land sales proposal and avoid the shutdown of its refinery.
The refinery is one of the non-government controlled units.
