US ethanol producer Southridge has announced plans to acquire an ethanol plant in Brazil that would enable it to produce 50 million gallon/year (190 million litres/year) by May 2009, the Texas-based company said.
No financial details were available. The plan will be funded by proceeds from an Asian-based investment transaction nearing completion.
Brazil is the world's top exporter of ethanol and the second-largest producer of the biofuel, after the US.
Dallas-based Southridge is also building an ethanol plant in Mississippi with annual capacity of 60 million gal/year.
