The BP Bunge Bioenergia JV will produce sugarcane ethanol for the Brazilian market.
The JV will create 11 biofuels site. 70% of vehicles in Brazil currently run on ethanol.
Bunge Limited is an American agribusiness and food company, incorporated in Bermuda, and headquartered in White Plains, New York, United States.
As well as being an international soybean exporter, it is also involved in food processing, grain trading, and fertilizers.