BP steps up in Brazil, buys out JV partners for $71M in Tropical Bioenergia

September 14, 2011 |

In Brazil, BP has purchased the remaining 50% of Tropical Bionergia from its JV partners Maeda SA Agroindustrial and LDC-SEV Bioenergia for $71 million.

Now, BP will have full control of the ethanol mill in Edeia, Goias state where it plans are to double the size of the operation to 5 million tonnes of crushed cane, or 450 million liter of ethanol annually. BP also paid $25 million for a further 3% in Companhia Nacional de Acucar e Alcool, bringing its ownership up to 99.97%.

Category: Fuels

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