Petrobras to Spend $16 Million to Boost Biodiesel Plant Output

Petroleo Brasileiro SA (PETR4), Brazil’s state-controlled oil producer, will invest as much as 28 million reais ($16 million) to expand its Montes Claros biodiesel plant.

Petrobras signed an agreement with the state government of Minas Gerais to boost the facility’s annual production capacity 40 percent to 152 million liters (40.1 million gallons), the Rio de Janeiro-based company said today in an e-mailed statement.

To contact the reporter on this story: Stephan Nielsen in Sao Paulo at snielsen8@bloomberg.net

To contact the editor responsible for this story: Tina Davis at tinadavis@bloomberg.net

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