Brazilian consortium to take FID on $1-B Refinaria Riograndense biofuels project in June
Brazil's Refinaria Riograndense will decide in June on a potential $1-billion investment in a unit to produce advanced biofuels such as sustainable aviation fuel (SAF) and hydrotreated vegetable oil (HVO), an executive said.
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Production would start in 2029 and focus primarily on export markets, Refinaria Riograndense executive Flavio de Souza said.
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Project has processing capacity of 800,000 metric tons per year of vegetable oils, residual oils and animal fats.
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The unit would be able to produce 620,000 tons of SAF or 680,000 tons of HVO, depending on the output setup or market demand.
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Construction would begin soon after project approval, Souza said at an event in Sao Paulo.
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Project is one of Brazil's most advanced for SAF production.
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Refinaria Riograndense's shareholders include state-run oil firm Petrobras, petrochemical producer Braskem and conglomerate Ultra
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