07 October 2008 23:22 [Source: ICIS news]
HOUSTON (ICIS news)--US ethanol maker Southridge on Tuesday announced plans to acquire an ethanol plant in Brazil that would enable it to produce 50m gal/year (190m litres/year) by May 2009, the Texas-based company said.
No financial details were available. The plan will be funded by proceeds from an "Asian-based investment transaction nearing completion", the company said.
Brazil is the world’s top exporter of ethanol and the second-largest producer of the biofuel, after the US.
Dallas-based Southridge is also building an ethanol plant in Mississippi with annual capacity of 60m gal/year.
For more on ethanol visit ICIS chemical intelligence
Bookmark Simon Robinson’s Big Biofuels Blog for some independent thinking on biofuels
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