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Wednesday, March 19, 2008
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Brazil's Ethanol Firms Team up to Build Pipeline

SAO PAULO, BRAZIL - Brazil's largest sugar and ethanol group, Cosan (CSAN3.SA: Quote, Profile, Research)(CZZ.N: Quote, Profile, Research), said late on Tuesday it has set up a joint company with Brazilian partners Copersucar and Crystalsev to build and operate an ethanol pipeline.

The capital of the new company, which totals 60 million reais ($35.4 million), will be split equally between the three shareholders, but new partners are welcome, Cosan said in a statement.

"It's a shareholders' intention to open this opportunity to other ethanol producers in (Brazil's) center-south and to other interested associates," Cosan said.

The pipeline is expected be built between Paulinia, in Sao Paulo state, and the coast, with ramifications to Conchas and Ribeirao Preto, in the same state.

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Source: Reuters


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