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ETH Bioenergia Invests $653 Million, Changes Name, O Estado Says

ETH Bioenergia, the biofuels unit of Brazilian construction company Odebrecht SA, will invest 1.3 billion reais ($653.2 million) next crop season, mostly in new sugar-cane fields, O Estado de Sao Paulo reported.

ETH Bioenergia expects to process 26 million metric tons of cane next harvest, 30 percent more than the present crop, the Sao Paulo-based newspaper said today, citing the company’s president Luiz de Mendonca. Brazil’s sugar-cane harvest begins in April.

The company will announce later today that it will change its name to Odebrecht Agroindustrial, according to the article.

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

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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