ETH Bioenergia Invests $653 Million, Changes Name, O Estado SaysStephan Nielsen
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.