The state fuel company has announced an investment of 920 million dollars (702.6 million euros) in Açúcar Guarani, one of the largest Brazilian companies in the production of sugar and ethanol. It’s also been known to implement a biodiesel production project in Portugal.

Petrobras enters the Guaraní capital through its subsidiary Petrobras Fuels in a series of measures meant to obtain a 45.7% equity interest.

In this sense, the president of Petrobras fuel, Miguel Rossetto, explained that “since 2009 there has been a process of negotiation with various groups, but in Guarani we found quality criteria of operational, environmental, social and technological advantage in the production of ethanol. This is an important moment for the consolidation of Petrobras as an energy company. ”

As the statement says, the contribution of the Brazilian state will also have regarding the experience in distribution, manufacturing operations, logistics, marketing of ethanol, research and development.

Meanwhile, the Tereos Group, which owns Açúcar Guarani, contributing to society with their experience in agribusiness, the processing of sugarcane and the marketing of ethanol and sugar. The association meets the objectives of the group members to invest in the growth of their participation in the biofuel sector.

For the president of Petrobras, José Sergio Gabrielli de Azevedo, this movement, “in compliance with the Petrobras Business Plan, is a significant step in the biofuels sector for the consolidation of the company as an energy company, in a sustainable manner to contribute to the achievement of targets for ethanol production from Petrobras Biofuels.”

Petrobras wants to become a major player in the biofuel sector worldwide, with a production target of 3,900 million liters of ethanol by 2013. In December the company already said it planned to buy stakes in two or three ethanol plants in the course of this year 2010. In fact, last year it bought a sugar mill in the state of Minas Gerais with a production of 100 million liters of ethanol annually.

Biodiesel for Portugal and Spain
For its part, the Board of Directors of Petrobras approved the project with the company Galp Energia, which aims to produce 250 thousand tons / year of biodiesel by 2015, with investments estimated at $ 240 million (EUR 183 million). The Iberian peninsula is the main destination for this production

The strategy for the supply of biodiesel unit in Portugal provides for the implementation of an agro-industrial pole in Brazil for the cultivation of African palm (Elaeis guineensis), with an output of approximately 300 thousand tons year of palm oil in the state of Pará and investments estimated at $ 290 million (221 million euros), between 2010 and 2018.

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