BP acquiring ethanol plants in Brazil

By OGJ editors
HOUSTON, Mar. 14
-- BP PLC has agreed to acquire majority control of Cia. Nac. de Acuacar e Alcool, an ethanol and sugar producer in Brazil for $680 million and assumption of all the company’s long-term debt.

BP will become operator of two ethanol mills in Goias and Minas Gerais states. A third mill is under development in Minas Gerais.

When fully developed, each mill will have capacity to crush 15 million tonnes/year of sugar cane grown nearby and to produce 480 million l./year of ethanol equivalent. Each mill also will be able to supply 380 Gw-hr/year of electrical power.

Sellers of the plants are Acucar e Alcool Fundo de Investimento em Participacoes and Acucar e Alcool II Fundo de Investimento em Participacoes.

BP already owns a 50% interest in Tropical BioEnergia SA, which operates a 435 million l./year ethanol plant in Goias.



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...