Bunge to officially launch biodiesel plant in Brazil on Fri

(SeeNews) - Mar 4, 2013 - Bunge Brasil, the local unit of US oilseed processing firm Bunge Ltd (NYSE:BG), will officially launch its newly-built biodiesel plant in the Nova Mutum municipality of central-western Mato Grosso state on Friday.

The venture, which has received around BRL 60 million (USD 30.3m/EUR 23.3m) investments, marks Bunge's entry in the local biodiesel segment. It is strategically located next to an already operational soybean processing unit of the company.

The construction of the biodiesel venture, with capacity to produce 413.79 cu m (14,613 cu ft) per day, was cleared by local oil sector watchdog ANP in April 2011 and the green light for the operations start was given in October last year.

According to data released last week by the Brazilian Association of Vegetable Oil Industries ABIOVE, the country's total biodiesel output last year hit 2.672 billion litres (705.9bn gallons), up almost 2% in annual terms and the highest in the last eight years.

(BRL 1 = USD 0.505/EUR 0.389)

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