Petrobras To Invest In 20 Ethanol Mills By 2012
Reuters:
Brazil’s state-run oil company, Petrobras, said on Wednesday it would start approving its first five partnerships to produce ethanol next week with mills in Goias and Mato Grosso states.
Seeking to take advantage of growing demand for alternative sources of energy, the company intends to have a 20 to 30 percent share in 20 ethanol distilleries, together with Japanese trading house Mitsui.
“Our idea is to have an average output of 200 million liters of ethanol from each (of the five) plants (per year, from 2010),” Petrobras downstream director, Paulo Roberto Costa, said in a news conference.
Total investments in the five units are estimated at $1 billion, including sugar cane plantation and electric energy cogeneration from the burning of the cane bagasse.
The second five new partnerships will likely be announced by the year-end and another 10 next year, Costa said.
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