Petrobras and Tereos announce production of ethanol in SP
Folha de S. Paulo
Petrobras Biocombustível and the French group Tereos - controllers of Guarani - announced investments of R$ 29.6 million (US$ 18.5 million) in the construction of an ethanol plant in Colina (406km from São Paulo) that only produced sugar. The announcement comes in the opposite direction of most investments in the crop, aimed at sugar. Last week, the Minister Edson Lobão (Mines and Energy) ordered the State company to produce more ethanol due to unprecedented high price of ethanol at the gas stations. Because of that, the federal government threatens taxing the export of sugar.
The new plant should begin operating on June 1 and it estimates to produce up to 107 million liters of ethanol per harvest. In 2010, Guarani produced 692 million liters of the fuel. On its turn, Petrobras offered 920 million liters. Petrobras Biocombustível expects to allocate at least US$ 1.9 billion for investments in the sector until 2015.
The goal, according to the President of Petrobras Biocombustível, Miguel Rossetto, is to consolidate Petrobras in the ethanol market. He visited the works with the President of the Guarani, Jacyr Costa Filho, and he opened the beginning of the harvest in a ceremony at the Usina Andrade, in Pitangueiras (364 km from São Paulo). However, he avoided issues such as the price and shortage of the fuel.
The new ethanol plant integrates the expansion plan of Guarani for the next four years. Estimated at R$ 767.4 million (US$ 479.6 million), the project is financed by the National Development Bank (BNDES). The forecast is to increase the sugarcane crushing capacity at 3.5 million tons, reaching 24.5 million per harvest.
As regards the resources of Petrobras, Rossetto said the values are being reviewed and a new number, "certainly greater" will be announced in May. "Our answer is to increase the production of ethanol, but Petrobras alone won't for responsible for the entire demand".