BP said Friday that it plans to invest $350 million to
expand its ethanol processing capacity of Tropical, one of its
sugarcane processing ventures in Brazil.
The expansion, which is scheduled to
start next year, includes the building of a new mill and is
expected to create around 7,650 direct and indirect jobs.
The processing capacity of Tropical will double to
5 million tons of sugarcane, thereby producing 450
million litres/year of ethanol equivalent.
The mill is expected to be operating at full capacity by the
end of 2014 or early 2015.
This expansion reinforces our commitment
to the Brazilian sugarcane industry and will enable us to grow
our business in the future," said Mario Lindenhayn, CEO
of BP Biofuels Brazil.
Since we started operating in May 2011, we have been
improving our operational efficiency and this announcement
marks a further milestone in delivering our biofuels strategy,"