Germany’s Verbio in $400m Peru ethanol project

23 May 2008 19:44  [Source: ICIS news]

TORONTO (ICIS news)--German biofuels producer Verbio has agreed with Peru’s Companía Eléctrica el Platanal (CELEPSA) to cooperate in developing a $400m (€256m) project to produce food crops and some 200,000 tonnes/year of bioethanol from 2012, it said on Friday.

 

The project would develop and irrigate 35,000 hectares of desert in Peru’s Lima und Ica regions to cultivate crops for food and biofuels, Verbio said.

 

The project was fully in line with Verbio’s aim to produce biofuels in an environmentally and socially sustainable way, said chief executive Claus Sauter.

 

“We will be opening up a very attractive market, both in terms of growing regional demand and exports,” he said.

 

Verbio and CELEPSA signed the agreement last week during a visit to Peru by German chancellor Angela Merkel and a delegation of German company executives that included Sauter, the company said.

 

To discuss issues facing the chemical industry go to ICIS connect.

 

Bookmark Simon Robinson’s Big Biofuels Blog for some independent thinking on biofuel.

 

($1 = €0.64)

By: Stefan Baumgarten
+1 713 525 2653

< previous article(VIDEO - ICIS news Asia Lunchtime Bulletin 16 October 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly