Vinema Plans $354 Million Brazil Grain-Ethanol Projects
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Vinema Biorefinarias do Sul Ltda., a Brazilian biofuel company, plans to spend 720 million reais ($354 million) building the nation’s first six ethanol-fuel mills that use grains as raw material.
The company expects to secure most of the 40 million reais of equity commitments for a first plant in the city of Cristal within 40 days, Vilson Neumann Machado, director of development projects at Camaqua, Brazil-based Vinema, said in a telephone interview today.