10 January 2012 19:59 [Source: ICIS news]
PORTO ALEGRE, Brazil (ICIS)--A Brazilian ministry approved an energy-development plan that calls for investments in the biofuels industry of Brazilian reais (R) 97bn (reais) ($53bn, €41bn) , a spokesperson confirmed on Tuesday.
Those investments will take place through 2020, and they will cover plants as well as pipelines, ports and other infrastructure, according to the country's 10-year energy plan, called the Plano Decenal de Expansao de Energia.
According to the plan, domestic and international demand for ethanol could increase to 73.3bn litres in 2020 from 27.6bn litres in 2010.
In Brazil, demand is rising because of the growing size of the nation's fleet of flexible fuel vehicles (FFV), the plan said. The fleet should rise to 39.1m by 2020 from 12.4m in 2010.
($1 = €0.78)
($1 = R1.84)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections