February 20, 2018 / 6:11 PM / 3 months ago

Brazil-U.S. joint venture to build 2nd corn ethanol plant in Mato Grosso

SAO PAULO, Feb 20 (Reuters) - FS Bioenergia, a joint venture between Brazilian and U.S.-based investors, on Tuesday said it will build its second corn-based ethanol plant in Brazil’s top grains producing state of Mato Grosso.

FS Bioenergia, which was the first venture to build an ethanol plant 100 percent based on corn in Brazil - where basically all ethanol is made from sugar cane - said it will spend 1 billion reais ($308 million) on the project.

The plant will have a production capacity of 680 million liters per year.

$1 = 3.25 Brazilian reais Reporting by Marcelo Teixeira; Editing by Tom Brown

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