BP, Bunge Form Joint Biofuel Venture in Brazil
02 Dicembre 2019 - 1:19PM
Dow Jones News
By Dieter Holger
BP PLC (BP.LN) said Monday that it has formed a joint venture
with agriculture company Bunge Ltd. (BG) to produce biofuels in
Brazil from sugarcane.
The new company, BP Bunge Bioenergia, has 11 biofuel sites in
five Brazilian states, employing more than 10,000 people, BP said.
Per year, the venture can produce more than 1.5 billion liters of
ethanol and provide 1,200 gigawatt hours of electricity in
Brazil.
BP's Mario Lindenhayn has taken the position of executive
chairman of the new venture, with Bunge's Geovane Consul as chief
executive. Both companies have equal representation on the board of
directors.
"Biofuels is an increasingly important part of a lower carbon
energy system," Mr. Lindenhayn said.
Write to Dieter Holger at dieter.holger@wsj.com;
@dieterholger
(END) Dow Jones Newswires
December 02, 2019 07:04 ET (12:04 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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