From the newsroom
São Paulo – Japan will invest in Brazilian research and production of alternative fuels. Eight technicians from the Japan Bank for International Cooperation (JBIC) arrived in Brazil yesterday (19) to learn about the potential for Brazilian biofuel production and evaluate the approval of a US$ 600 million loan.
The Japanese money should be used in creating a National Center for Biofuels, with headquarters in Piracicaba, a city in the São Paulo state countryside. The final answer regarding the loan will be given by September, according to information from the Ministry of Agriculture, Livestock and Supply. Japan is interested in purchasing Brazilian alcohol, an alternative fuel produced from sugarcane. Brazil has approved the addition of 3% alcohol to gasoline, generating a 1.8 billion liter demand per year. The Japanese, however, intend to add 10% alcohol to their gasoline.
