Cuba may allow foreign direct investment in sugarcane ethanol
In Cuba, the government is considering allowing foreign investment in sugar cane based ethanol production. Tovar Nunes, a Brazilian Foreign Ministry spokesman stated, “Fidel’s resistance in this field is being overcome.” Fidel has historically been against ethanol based on concerns that this would compete with food production. Over the last 7 years, the Cuban sugar industry has seen half the country’s mill close and cultivation drop.
Cuba reportedly has the capacity to produce nearly 2 billion gallons per year. If Cuba pursues reaching its full potential, it could become the third largest ethanol producer in the world.
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Category: International
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