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.
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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