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Petrobras and Mitsui to Form Bioenergy Joint Venture in Brazil
15 March 2008
Petroleo Brasileiro S.A. (Petrobras) and Mitsui & Co. are setting up a 50-50 joint venture in Brazil to implement bioenergy-related projects, including bioethanol exports to Japan and power generation from sugarcane bagasse.
The company will be called Participações Nippo Brasileira em Complexos Bioenergéticos S.A. Its creation is in line with Petrobras’ strategic plan, which foresees boosting performance in the biofuel markets as a world-class integrated energy company.
The company will take advantage of ongoing projects to build bioethanol factories in the Brazilian states of Mato Grosso, Goias and Minas Gerais to tap overseas markets, Petrobras said, with the greatest emphasis being placed on ethanol exports to Japan.
The factories plan to produce an aggregate 1 million kiloliters (264 million gallons US) of bioethanol per year.
March 15, 2008 in Brief | Permalink | Comments (0) | TrackBack (0)
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