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Nobis to spend $200 million on ethanol project in either Peru or Costa Rica

Thursday, March 3, 2011

Consorcio Nobis, an Ecuadorean agricultural and energy holding company, said it plans to invest $200 million in the next three years to produce ethanol in Peru or Costa Rica.

The Ecuador-based company is seeking to take advantage of free-trade agreements those countries have with the US.

Nobis, which has total annual sales of about $600 million, will make a decision on the location of the plant and a sugar-cane plantation by June.

Original source: Bloomberg