Abu Dhabi’s state-owned Mubadala Capital plans to invest around USD 13.5 billion in a biofuels project in Brazil over the next decade, according to the Financial Times. The project’s goal is to produce renewable diesel and sustainable aviation kerosene using non-food plant matter. The endeavor will have five modules, each valued at USD 2.7 billion, each containing a new biorefinery capable of processing 20,000 barrels of fuel per day. It will also contain the required infrastructure and farmed areas to support the input crop. The first module is expected to start production by the end of 2026. The investment will be funded through a combination of equity and debt over 5-10 years.
Source: Money Times (*Translated by Ia Niani)
UAE’S GIANT PLANS USD 13.5 BILLION INVESTMENT IN BRAZIL’S BIOFUEL SECTOR
Published On - 9 de May de 2024