Copesul to Double Class A Gasoline Production
|Wednesday, December 31, 2003
Brazilian petrochemical company Copesul plans to spend 30.4mn reais (US$10.5mn) to more than double its production capacity of class A (alcohol-free) gasoline by the second half of 2004, development bank BRDE said in a statement.
BRDE (Banco Regional de Desenvovimento do Extremo Sul) has lent Copesul 16mn reais for the project. Apart from producing up to 25,000 cubic meters (cu. m.) a month of class A gasoline instead of the current 12,000cu. m., Copesul will use part of the money to increase storage space for diesel and anhydrous alcohol.
Copesul has been producing and selling class A gasoline since November 2001. The gasoline is sold to distributors, who then mix the fuel with anhydrous ethanol. A Copesul spokesman declined comment on the project, citing securities commission regulations.
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