BP: to form ethanol joint venture with Brazil's Copersucar.
(CercleFinance.com) - Oil major BP and Copersucar, the world's biggest sugar and ethanol trader, said on Thursday that they have formed a 50/50 joint venture to operate a "major" ethanol storage terminal in Brazil.
The venture will own the Terminal Copersucar de Etanol in Paulinia, in the state of Sao Paulo, which is currently solely owned by Copersucar.
Operational since September 2014, the plant has ten tanks with a total storage capacity of 180 million litres of ethanol and moves around 2.3 billion litres per year, with the possibility of further expansion, the companies said.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The venture will own the Terminal Copersucar de Etanol in Paulinia, in the state of Sao Paulo, which is currently solely owned by Copersucar.
Operational since September 2014, the plant has ten tanks with a total storage capacity of 180 million litres of ethanol and moves around 2.3 billion litres per year, with the possibility of further expansion, the companies said.
Copyright (c) 2017 CercleFinance.com. All rights reserved.