BP invests $560M in ethanol joint venture

04/25/2008 | Times (London) (subscription required), The

U.K.-based BP is partnering with Brazilian agribusiness groups Santelisa Vale and Maeda Group for a stake in Tropical Bioenergia, a joint venture firm that will focus on cultivating and refining sugar cane into ethanol. BP is investing more than $560 million in the venture and is paying its partners $60 million for a 50% share.

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