BP Biofuels to expand Brazilian ethanol production plant
BP Biofuels is planning to invest $350m in order to expand the ethanol processing capacity of Tropical, one of its sugarcane processing ventures in Brazil.
The expansion is scheduled to begin in 2013 and will include the construction of a new mill, which is expected to create around 7,650 direct and indirect jobs.
Located in Edeia, Goiás, the Tropical sugarcane mill is expected to double its production to five million tonnes of sugarcane, producing 450 million litres of ethanol equivalent each year.
BP Biofuels Brazil CEO Mario Lindenhayn said this expansion will reinforce the company's commitment to the Brazilian sugarcane industry and will enable the company to grow its business in the future.
"Since we started operating in May 2011, we have been improving our operational efficiency and this announcement marks a further milestone in delivering our biofuels strategy," Lindenhayn added.
The mill is expected to operate at full capacity by the end of 2014 or early 2015.
Image: BP's world headquarters in St. James's, City of Westminster, London. Photo courtesy of WhisperToMe.