RIO DE JANEIRO (Kyodo) Brazil is nearly ready to kick off a giant entrepreneurial project that will produce billions of liters of fuel alcohol bound for Japan.
The ethanol project is a joint effort between Brazilian oil monopoly Petroleo Brasileiro SA (Petrobras) and trading house Mitsui & Co., with financial support from the Japan Bank for International Cooperation.
Japan will use the ethanol to reduce its use of gasoline by mixing the two fuels. In the near future, all of Japan's gasoline is expected to be at least 3 percent ethanol.