Glencore buys stake in Rio Vermelho

In Sao-Paulo, Brazilian-based Rio Vermelho produces ethanol from around 1.3 million tonnes of sugarcane per season.

Now, in its first ever investment in the sugarcane sector, Glencore, a supplier of commodities and raw materials to industrial consumers, has acquired a stake in the company’ sugarcane mill for over $80 million (€60.5 million).

Switzerland-based Glencore now owns a 70% stake in the mill. It is now expected to invest further in the mill in order to expand its production capacity, in addition to generate renewable electricity from bagasse.

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