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Mitsui, Petrobras in Ethanol JV Talks

1:52 PM MDT | July 25, 2007 | Chemical Week Editorial Staff

Mitsui & Co. (Tokyo) and Brazilian state-owned oil company Petrobras are in talks for a joint venture to produce ethanol, press reports say. The jv could be worth $8 billion, and will supply as much as 3 billion liters/year of ethanol to Japan. The companies are exploring the possibility of building as many as 40 refineries to distill ethanol from sugar cane, Petrobras was reported as saying. The stakes in the jv have not been ironed out, the reports say. Separately, Mitsui says it has signed a memorandum of understanding with Petrobras and Camargo...

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