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New Petrobras move

This article was originally published in The Public Ledger

BRAZIL'S state-run oil company, Petrobras, will invest reais420m ($239m) in two units of Sao Martinho. Petrobras will take a 49% stake in the Usina Boa Vista mill and SMBJ Agroindustrial project under the all-share deal in exchange for guaranteed rights to 49% of the ethanol from the units. The mills are located in the strategically important centre-west area to supply Petrobras' pipeline and meet its aggressive export goals.



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