BP Is Joining Tropical BioEnergia JV In Building Brazilian Ethanol Plant

摘要

Edeia-BP said it plans to acquire a 50% stake in Tropical BioEnergia SA, a Brazilian joint venture established by Santelisa Vale and Maeda Group, which is building a 115-million-gal/yr ethanol refinery in Edeia, Goias State, Brazil. Upon receipt of required approvals, Santelisa Vale and Maeda would each hold a 25% stake in the joint venture with BP paying about $60-million for the remaining share, subject to working capital adjustments. BP noted it will provide funding for "agreed future investment in line with its shareholding." The transaction is expected to be complete before the end of June.