Odebrecht to invest USD 900m in ethanol production in Mexico - governor

Aug 5, 2011 - Brazilian industrial conglomerate Odebrecht will invest USD 900 million (EUR 637.9m) to produce ethanol in Mexico's eastern Veracruz state, Veracruz' governor, Javier Duarte, said yesterday after a recent visit to Brazil.
The company will build an ethanol plant, teaming up with local sugar cane producers to secure raw material from 70,000 ha (173,000 acres) sugar cane plantations, the governor said.
The project will create 8,000 direct and 15,000 indirect jobs.
Odebrecht produces ethanol in Brazil through its ETH Bioenergia joint venture with Japanese trader Sojitz Corp (TYO:2768).
(USD 1 = EUR 0.709)

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