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Brazilian oil company Petrobras and Japan's Nippon Alcohol Hanbai have signed a contract for the creation of Brazil-Japan Ethanol, a company to be based in Japan destined to import and distribute Brazilian ethanol. Petrobras is represented by its international subsidiary Transpetro BV, based in Holland, who have a 50% stake in the company. Nippon Alcohol Hanbai holds the remaining 50%. The two shareholders will also share the company management. The new company, to be called Nippaku Ethanol in Japanese, aims to develop technical and commercial solutions to the introduction of ethanol in the Japanese energy sector thus replacing the use of mineral/fossil fuels and reducing the emission of polluting gases that cause the greenhouse effect. According to Petrobras, the new venture is part of the company's objectives as per its strategic planning for the 2005-2015 period which aims to expand the business worldwide.
www.petrobras.com.br
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