Petrobras: $1.3B in ethanol investments planned

In Brazil, Petrobras expects the country to import less than 1 million cubic meters of ethanol during 2011 while exporting more than 2 million. The company says that all organizations with the ability and opportunity to import ethanol are doing so at the moment.

Petrobras itself expects to invest $1.3 billion overall by 2015 with a focus on developing more ethanol production capacity. Of that total, $570 million will be set aside for ethanol acquisitions, which is about a third of overall ethanol investment planned for the period. The remaining funds will be for production capacity expansion.