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.

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