Controlsud to provide $342 million for three ethanol plants, 150,000 acres of sugar cane, in Colombia

In Columbia, Controlsud International will provide $342 million in loans to develop 150,000 acres of sugar cane production and three ethanol plants with a production capacity of 96 Mgy.

Colombia has an E10 mandate that this production deal will assure compliance with. The plants will be located in Bolivar, Cordoba and Sucre ad will be operational by the end of 2010.

A recent study by the University of Wisconsin-Madison Nelson Institute for Environmental Studies ranked Malaysia, Thailand, Colombia, Uruguay and Ghana as the best developing nations for biodiesel investment, citing stability and agricultural potential as major factors.

On the ethanol side, the major development in the past several months prior to the Controlsud news was the launch last month of a 29 Mgy sugarbeet ethanol plant 90 miles north of Bogotá.

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