Valero says Aruba refinery tax dispute deal proposed

Proposed;

Valero would keep refinery workers on payroll,

Valero would pay $113 million if deal approved,

Refinery would also pay minimum $ 10 million in future years.

Valero purchased the 235.000 barrel per day refinery in 2004. The company inherited a tax holiday from certain taxes that was supposed to last through 2010.

to be continued..