In Angola, the Brazilian company Odebrecht agreed with Angola-based Sonangol and Damer to invest US$200 million in sugar ethanol and electricity projects in Malanje province. The project will cover 30,000 acres, of which 20,000 will be for sugar cane and the remainder for an ethanol plant and for crop rotation land. The joint venture will producel two million tons of cane, producing 160,000 tons of sugar, 50,000 cubic meters of ethanol and 140 megawatts of electricity per year. Damer and Odebrecht will each hold 40 percent of the venture and Sonangol will have the remaining 20 percent. The venture will be known as Biocom.
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