Sao Paulo, Brazil, 6 Nov – Portuguese company Prio plans to invest around 250 million reais on biofuel production in the Brazilian state of Maranhão, in the northeast of the country, the company said in a statement.
This will be the company’s first investment in the biofuels business carried out by the Martifer group in Brazil.
The company signed a protocol with the government of Maranhão for construction of an oil extraction factory in the state capital São Luís, in a 20 hectare area.
The company is also acquiring areas in the region of Baixo Parnaíba, on the east coast of Maranhão, to plant raw material, particularly soy and sunflower, which is expected to create around 1,500 jobs.
The project includes production of 200,000 tons of oil, which will be exported to the company’s biodiesel units in Romania and Portugal, the Maranhão government said in a statement. (macauhub)