Ethanol in Brazil: Indian Petro Firms Stall, but Agricultural Firms in Overdrive

BANGALORE, INDIA--September 21, 2010--Researched by Industrial Info Resources (Sugar Land, Texas)--Corporate India's growing interest in producing and procuring ethanol in Brazil for the huge Indian domestic market has not abated, but investors are returning to the traditional sugar companies. The initial foray was by the farming sector, especially leading sugar mills of the country. Then Bharat Petroleum Corporation Limited (BSE:500547) (BPCL) (Mumbai), which has drilling interests in Brazil, formed a consortium with Indian Oil Corporation (BSE:530965) (Mumbai) and Hindustan Petroleum Corporation Limited (BSE:500104) (HPCL) (Mumbai) for a possible $600 million investment in ethanol production for blending with petrol.