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Friday, 1 December 2017

BP, Copersucar to form 50-50 ethanol JV in Brazil

 BP Biofuels and Copersucar have agreed to form a joint venture (JV) to own and operate a major ethanol storage terminal in Brazil, better and flexibly connecting ethanol production with the country’s main fuels markets.
Copersucar is the world’s leading sugar and ethanol trader, with the largest sugar and ethanol storage capacity in Brazil. BP Biofuels, part of BP’s alternative energy business, is a significant producer of ethanol from sugarcane in Brazil.
The 50:50 joint venture will own and operate the Terminal Copersucar de Etanol in Paulinia in the state of Sao Paulo, which is currently solely owned by Copersucar. Joint ownership of the terminal will support the strategies of both companies - connecting important ethanol production with flexible storage capacity close to the main ethanol consumer markets in Brazil.
In addition to the shareholders’ business, the terminal will continue providing services to its current customers.

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