Last update: 23.12.2008
High oil prices fuel Brazil's ethanol boom
Source : investmentnews.com
Record-setting oil prices are driving investments in Brazil's bustling sugar cane ethanol industry. Private-equity investors in particular are leading the way by funding ventures to buy ethanol plants and sugar cane plantations. The private-equity group within The Goldman Sachs Group Inc. of New York is among the backers of Brazilian Renewable Energy Co. Ltd., a São Paulo-based company that plans to have 10 ethanol mills running by 2015, as well as a pipe-line to transport ethanol to the port of Santos in that country. In addition to deals backed by private-equity funds, London-based BP PLC this month agreed to pay $60 million for a stake in Tropical Bioenergia SA, an Edéia, Brazil-based sugar and ethanol joint-venture.
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13 May 2008 |
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