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COSAN AND SHELL ANNOUNCE NEW DETAILS ON JOINT BIOFUEL COMPANY

 Brazilian ethanol giant,Cosan SA, owned by billionaire Rubens Ometto Silveira Mello, and Royal Dutch Shell announced a new $12 billion biofuel company branded Raizen.

According to a statement released today, Raizen boasts 40,000 employees and is expected to produce more than 2.2 billion liters of ethanol annually. Raizen will also increase its sugarcane crushing capacity from 60 million metric tons a year to 100 metric tons a year.

In addition, the statement notes Raizen’s portfolio will include the following:

 – 23 ethanol plants with approx. 62 million tons per year of sugarcane crushing capacity, with a production of over 2.2 billion litres of ethanol;

 – It includes the electricity co-generation projects of the 23 units, of which 12 already have energy sales contracts, with installed capacity of approximately 900 MW.

 – Fuel distribution assets in Brazil, including ca. 4,500 service stations, 550 convenience stores and the participation in 53 distribution depots and in the aviation fuel business, with 54 airports.

 – Participation in an ethanol pipeline company.

 – Approx. US$ 1,6 billion of cash inflow.

 http://blogs.forbes.com/kerenblankfeld/2011/02/14/cosan-and-shell-announce-new-details-on-joint-biofuel-company/

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