Brazil to invest billions in Mozambique biofuels
Brazil has signed an agreement with Mozambique for a $6 billion (€4 billion) investment in biofuel exploration.
The report was confirmed by António de Godoy, chairperson of the Brazilian confederation of biofuel companies Arranjo Produtivo Local do Alcool (APLA).
The biofuels, made from sugarcane, will be exported to Brazil in the hope that the new source of fuel will cut the country’s dependence on fossil fuels.
Around $256 million has been invested in the Mozambique biofuels sector covering 83,000 hectares.
The report was confirmed by António de Godoy, chairperson of the Brazilian confederation of biofuel companies Arranjo Produtivo Local do Alcool (APLA).
The biofuels, made from sugarcane, will be exported to Brazil in the hope that the new source of fuel will cut the country’s dependence on fossil fuels.
Around $256 million has been invested in the Mozambique biofuels sector covering 83,000 hectares.
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