Brazil, the world's largest ethanol producer, has thrown open its doors to investment by Indian companies in sugarcane farming, extracting ethanol and exporting it back home for mixing in petrol.
"Yes, yes sure. They can buy ethanol manufacturing companies, invest in cane farming and producing ethanol," visiting Brazalian Minister of State for Industry and Foreign Trade Miguel Jorge told reporters after meeting Oil Minister Murli Deora here today.
While India dopes petrol with five per cent ethanol to cut its oil import dependence, petrol is Brazil is made up of one-fourth ethanol.
Brazil, he said, was encouraging India to raise the percentage of ethanol in petrol and would allow companies investing in ethanol production in Brazil to export the green fuel back home.
Deora said the government plans to double ethanol quantity in petrol to 10 per cent from October.
