Brazilian conglomerate Odebrecht invests $581 million more in biofuels

Brazilian conglomerate Odebrecht will invest $581 million, via its ETH Bioenergia subsidiary, in three ethanol plants in Mato Grosso do Sul state. The plants will have a combined capacity of 15 million tons of sugarcane. The plants will manufacture sugarcane, ethanol and will produce energy from sugarcane bagasse.

Two plants in Nova Alvorada do Sul will be ready for the 2009 and 2010 harvest seasons, while a third plant in Nova Andradina will be operational by 2011. This investment brings Odebrecht’s holding to eight plants in Brazil.

Odebrecht is on the move. Earlier this month in Angola, Odebrecht agreed with Angola-based Sonangol and Damer to invest US$200 million in sugar ethanol and electricity projects in Malanje province. The project will cover 30,000 acres, of which 20,000 will be for sugar cane and the remainder for an ethanol plant and for crop rotation land. The joint venture will producel two million tons of cane, producing 160,000 tons of sugar, 50,000 cubic meters of ethanol and 140 megawatts of electricity per year. Damer and Odebrecht will each hold 40 percent of the venture and Sonangol will have the remaining 20 percent. The venture will be known as Biocom.

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