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Odebrecht’s Ethanol Group To Pump $581 Million In Brazil State
By Mr Ethanol | October 25, 2007
CNNMoney:
ETH Bioenergia, the energy unit of Brazilian conglomerate Odebrecht, will invest 1.05 billion Brazilian reals ($581 million) in three new sugar and ethanol mills in the central-west state of Mato Grosso do Sul, the company’s press office said Wednesday.
The three mills are expected to have the capacity to process 5 million metric tons of sugarcane each. Each will receive an equal share of the investment, according a report in Valor Economico, a local business daily.
Latin America’s largest construction company, Odebrecht, said that the mills will produce sugar and ethanol and will cogenerate energy from sugarcane bagasse.
The two mills in Mato Grosso do Sul’s city of Nova Alvorada do Sul should start production in time for the 2009-10 and 2010-11 harvests, while the plant in Nova Andradina should start operations before the 2011-12 harvest, Valor reported.
The investment is part of ETH Bioenergia’s strategy to become one of Brazil’s top sugar and ethanol players over the next eight years.
The company in September also announced it would invest over BRL1.0 billion in three sugar ethanol plants in the central-west state of Goias.
With the new investments, Odebrecht will have a total of eight sugar and ethanol units in Brazil.
Topics: Brazil, Industry, Investing, News |
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