BP invest $350 mn expand ethanol processing capacity in Brazil

BP to invest $350 mn to expand ethanol processing capacity in Brazil

4:55 AM, 11th December 2012
BP to invest $350 mn to expand ethanol processing capacity in Brazil

LONDON, UK: BP Biofuels plans to invest $350 million to expand its ethanol processing capacity of Tropical, one of its sugarcane processing ventures in Brazil. The expansion, which is scheduled to start next year, includes the building of a new mill and is expected to create around 7,650 direct and indirect jobs. Tropical’s processing capacity will double to five million tonne of sugarcane producing 450 million litres of ethanol equivalent per year. The mill is expected to be operating at full capacity by the end of 2014 or early 2015.

“This expansion reinforces our commitment to the Brazilian sugarcane industry and will enable us to grow our business in the future. Since we started operating in May 2011, we have been improving our operational efficiency and this announcement marks a further milestone in delivering our biofuels strategy,” said Mario Lindenhayn, CEO, BP Biofuels Brazil.

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