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Noble Group To Invest $450 Million in Brazilian Ethanol
In Hong Kong, Noble Group said it will invest $450 million in its Brazilian sugar-cane ethanol processing operations by 2011.
Noble will increase capacity at its Votuporanga plant from 2 million to 5 million mt of cane, and will construct a new plant in Sao Paulo to crush an additional 5 million tons.
The company said that 80% of its output will be used to supply ethanol to the domestic Brazilian market. The Hong Kong-based company currently accounts for 10% of total Brazilian sugar cane processing.
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