BP Biofuels and Copersucar will own and operate a major ethanol storage terminal in 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.
It 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 potential for further expansion. It is located in one of Brazil's main fuel hubs and operates in a multimodal way, connected to important transport networks, pipelines and will soon be connected to the railway.
The facility supports the strategy of both companies – connecting important ethanol production with flexible storage capacity close to the main ethanol consumer markets in Brazil. The terminal will continue providing services to its current customers.
Dev Sanyal, BP's CEO of alternative energy, says: 'Brazil is one of the largest markets globally for ethanol as a fuel and this collaboration with Copersucar enables us to extend and expand our existing value chain to meet its growing demand.'
Paulo Roberto de Souza, president of Copersucar, says: 'The new joint venture will optimise ethanol logistics, with competitiveness gains and more flexibility in the way we serve the market. In addition to the values we share, the partnership with BP reinforces our commitment to the development of biofuels in Brazil.'
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