FS Bioenergia, a joint venture between Brazilian and U.S.-based investors, said on Tuesday it will build its second corn-based ethanol plant in Brazil’s top grains-producing state of Mato Grosso. FS Bioenergia, the first venture to build a 100 percent corn-based ethanol plant in Brazil - where basically all ethanol is made from sugar cane - said it will spend 1 billion reais (US$ 308 million) on the project.
Brazilian company FS Bioenergia inaugurated a corn ethanol plant, the first in the country, to produce 210 million liters year. The plant was built by a joint venture between the local agro-company Fiagril and US-based Summit Agricultural Group with investments of BRL 450 million (US$ 141.1m), said the Ministry of Agriculture, Livestock and Farming.