Peru's Laredo to invest USD 20m in ethanol, cogeneration

(ADPnews) - Oct 1, 2010 - Peru's agribusiness firm Laredo (LIN:LAREDOC1) will invest USD 20 million (EUR 14.6m) to start ethanol production and install a cogeneration power plant, the company's alcohol distillation manager, Alejandro Sanchez, said.
Laredo, a sugar refiner controlled by Colombian agribusiness group Manuelita, wants to build an ethanol plant with a production capacity of 150,000 litres (39,630 gallons).
As the company has completely developed its 7,000 ha (17,300 acres) of lands with sugar cane plantations, its new strategy is to reinforce all its business units, Sanchez said.
In addition, the company studies the possibility to develop a wind power project.
(USD 1 = EUR 0.732)

Choose your newsletter by Renewables Now. Join for free!