Brazil’s Odebrecht, DP World acquire majority stake in proposed Santos ethanol port

In Brazil, DP World and Brazil’s Odebrecht announced that they will acquire a majority stake in the Embraport port project in Santos, that is intended as a major terminal for ethanol exports.  The group acquired its stake from Coimex Group, which will retain a minority share.

For DP Group, a state enterprise of the emirate of Dubai, the acquisition marks the first entry into the Brazilian market. The project is slated to open in 2012 at a cost of $500 million.

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