Brazil: Ethanol from Sugar BP and Copersucar to Form a JV in Brazil
BP Biofuels and Copersucar announced that they have agreed to form a joint venture to own and operate a major ethanol storage terminal in Brazil. Copersucar is a sugar and ethanol trader, with the largest sugar and ethanol storage capacity in Brazil.
São Paulo/Brazil — The 50/50 joint venture will own and operate the Terminal Copersucar de Etanol in Paulínia in the state of São Paulo, which is currently solely owned by Copersucar. Joint ownership of the terminal will support the strategies of both companies — connecting important ethanol production with flexible storage capacity close to the main ethanol consumer markets in Brazil.
In addition to the shareholders’ business, the terminal will continue providing services to its current customers.
In operation since September 2014, the Paulínia terminal has ten tanks with a total storage capacity of 180 million litres of ethanol and moves around 2.3 billion litres per year, with the possibility of further expansion. The terminal is located in one of Brazil’s main fuels hubs and operates in a multimodal way, connected to important transport networks, pipelines, and will soon be connected to the railway as well.
The transaction and formation of the joint venture will be subject to the necessary approvals of relevant supervisory bodies. Commercial details of this transaction are not being released.