Browse > Home / International, Producer News / Hong Kong’s Noble Group to invest $450 million in Brazilian ethanol

Hong Kong’s Noble Group to invest $450 million in Brazilian ethanol

December 31, 2007

In Hong Kong, Noble Group said it will invest $450 million in its Brazilian sugar-cane ethanol processing operations by 2011. Noble will increase capacity at its Votuporanga plant, to 5 million tons of cane (from 2 million), and will construct a new plant in Sao Paulo to crush an additional 5 million tons.
The company said that 80-percent of its output will be used to supply ethanol to the domestic Brazilian market. The Hong Kong-based company currently accounts for 10 percent of total Brazilian sugar cane processing.
In Brazil, ethanol production increased 20 percent in 2007, according to figures released by the the Ministry of Agriculture, Livestock and Supply. Consumption increased, according to a Ministry official, because 90 percent of all new cars sold in Brazil are flex-fuel vehicles. The Ministry projects that 20 new ethanol plants will come online in 2008.
Recently, Brazilian state oil giant Petrobras announced a slowdown in their expansion strategy as Japan struggles to expand ethanol demand. Earlier, the company had announced plans to build 20 ethanol plants in Brazil in cooperation with Mitsui. Now, the company is going ahead with only three pilot projects until Japan’s market growth rate becomes more clear.
  • Today in Biofuels: US requires $105.5 billion in capital to meet Renewable Fuel Standard; ethanol train derails in Pennsylvania; Brazil’s ethanol production up 20 percent; Greenpeace leader says biodiesel yields are inflated
    • Top Story: The Farm Credit Council said that, following the signing of the Energy Independence and Security Act, US industry will require $105.5 billion in capital to meet the new Renewable Fuel St...
  • Infinity acquires 42 percent of 60 Mgy Brazilian sugarcane ethanol plant for $17 million
    • In Brazil, Infinity Bio-Energy announced that it purchased 42.31 percent of the 60 Mgy Cridasa Cristal Destilaria Autma de Alcool from up from Cooperativa Mista dos Produtores Rurais de Cristal do Nor...
  • Inter-American Development Bank loans $260 million for $1 billion Brazilian sugarcane ethanol project
    • In Brazil, the Inter-American Development Bank OKd a 15-year loan of $260 million for three sugarcane ethanol plants being built by Santa Elisa Vale do Rosario in partnership with US private equity. T...
  • Bunge to invest $639 million in three Brazilian ethanol plants: report
    • In Brazil, it has been reported in Valor Economico that Bunge will invest $639 million in three sugar ethanol plants in Tocantins state, in the north of Brazil. The new plants, the first of which will...
  • Infinity BioEnergy to acquire 1.2 million tonne Brazilian sugarcane mill; will expand capacity 20 percent
    • In Brazil, Infinity Bio-Energy Ltd said that it had entered into an agreement to acquire the 1.2 million tonne Destilaria Guaricanga sugarcane mill from BER Brasil Energia Renovavel Participacoes, wit...
  • Brazilian leaders ponder next steps on ethanol tariff; WTO complaint, US litigation in sight
    • In Brazil, leaders at the sugarcane association, Unica, said that following the collapse of the Doha round of world trade talks, the association will consider litigation in the United States to open m...

    Written by Jim Lane · Filed Under International, Producer News 

    Comments

    Got something to say?

    You must be logged in to post a comment.