BP To Inject $350M Into Brazilian Biofuels Operations

Law360, New York (December 7, 2012, 2:48 PM EST) -- A BP PLC unit will funnel $350 million into one of its Brazilian sugarcane processing plants to double its ethanol processing capacity, in a move that will boost the energy giant’s presence in Brazil’s burgeoning alternative energy markets, the company said Friday.

With the investment, BP Biofuels plans to start building a new mill for subsidiary Tropical BioEnergia SA next year, which is expected to double the plant's processing capacity to 5 million tons of sugarcane and will result in 450 million liters (3.9 million barrels)...
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