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Petrobras and Mitsui to incorporate a bioenergy company
CARACAS
Petroleumworld.com, Mar 14, 2008
Petrobras and Mitsui signed the documents that are required to incorporate a company in Brazil to invest in bioenergy projects, particularly ethanol for exports to the Japanese market, in addition to power generation from sugarcane bagasse. Each company will hold a 50% stake in the new company.The new projects will focus on meeting the future Japanese demand for ethanol, and will be deployed in compliance with the socioenvironmental and energy efficiency requirements for biofuel production in the so-called Bioenergetic Complexes.
The company will be called Participações Nippo Brasileira em Complexos Bioenergéticos S.A. Its creation is in line with Petrobras’ strategic plan, which foresees boosting performance in the biofuel markets as a world-class integrated energy company.
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