Petrobras Biocombustivel invests USD 20m in ethanol production unit in Mozambique

May 4, 2012 - Petrobras Biocombustivel, the biodiesel subsidiary of Brazil's oil and gas giant Petrobras (SAO:PETR3), is investing USD 20 million (EUR 15.2m) in the construction of an ethanol production plant in Mozambique.
The information was revealed yesterday by Petrobras Biocombustivel's president Miguel Rossetto during a forum aimed at promoting investments in Africa, organised by Brazil's National Bank of Economic and Social Development (BNDES) in Rio de Janeiro.
The ethanol facility is close to be completed and is expected to be quickly launched as the subsidiary has the necessary infrastructure in the region, since it already operates a sugar cane mill there, Rossetto noted.

(USD 1 = EUR 0.76)

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