The island of Sao Vicente in Cape Verde will be home to a processing factory for hydrated ethanol imported from Brazil, which will then be re-exported to Europe, Cape Verdean newspaper A Semana reported.
The investment of around 35 million euros, is the result of a pre-agreement between Cabo Verde Investimentos (CI) and Emerald – Sociedade de Investimento de Angola, and will involve Brazilian oil company Petrobras, one of the biggest companies in the world in the sector.
The economic and financial feasibility study for the factory was carried out in 2010 by the University of Sao Paulo – Economics, Management and Sociology Department of the "Luiz de Queiroz" Higher Education School of Agriculture and Continued Education Programme in Economic and Company Management.
