ADM to Invest in Brazilian JV

Archer Daniels Midland (ADM) says it has entered into an agreement with Grupo Cabrera (São José, Brazil) to form a joint venture to produce ethanol from sugar cane. The jv investment will be about $500 million over seven years, with ADM contributing about $370 million of that. The jv will build two ethanol complexes, one at Limeira Do Oeste and another at Jatai. Production is expected to begin at Limeira do Oeste in 2009 and at Jatai in 2010. The sites will produce a combined total of about 70-90 million...

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