Loan investment into large ethanol project in Brazil

A crop waste-to-ethanol project in Brazil has received a multi-million dollar loan from the Nacional de Desenvolvimento Econmico and Social development bank.

The $149.6 million (€113.7 million) will be used by a division of GranBio Investment to construct a facility capable of producing 82 million litres of fuel a year from sugarcane residuals.

It believes the technology available can get 45% more fuel from cane and stems then conventional methods.

The location of the facility has been revealed as Sao Miguel dos Campos but no completion date has been offered yet.