Petrobras purchased a biodiesel plant in Rio Grande do Sul found next to a fuel distribution base and a railroad terminal for receiving grain and shipping fuel. The plant uses integrated plant oil extraction and produces about 42 million gallons biodiesel yearly. Last week, Petrobas' controlled subsidiary Petrobras Biocombustvel S.A.
Pbio purchased a fifty percent percentage in BSBIOS Indstria e Comrcio de Biodiesel Sul Brasil S.A, which owns the biodiesel plant, for roughly $128 million. Petrobras claimed the purchase will consolidate its position in the domestic biofuels sector.
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