Brazil Raizen to invest USD 101.4m in cellulosic ethanol plant - report

(SeeNews) - Mar 14, 2013 - Raizen, the sugar and ethanol joint venture of Brazilian sector player Cosan (SAO:CSAN3) and Anglo-Dutch oil major Shell (AMS:RDSA, LON:RDSA), will invest BRL 200 million (USD 101.4m/EUR 78.4m) in the construction of its first cellulosic ethanol plant.

The project of the venture, however, still needs to obtain the approval of Raizen's executive board, Brazilian daily Valor Economico reported yesterday citing Raizen Energia's vice-CEO, Pedro Mizutani.

The unit is planned to have an annual production capacity of 40 million litres (10.6m gallons) of cellulosic ethanol from sugar cane bagasse and straw.

It will be installed at the Costa Pinto sugar and ethanol mill, in the Piracicaba municipality of southeastern Sao Paulo state. Construction works are scheduled to be completed by the end of 2014.

(BRL 1 = USD 0.507/EUR 0.392)

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