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news.Dow Chemical and Mitsui have decided to form a joint venture (JV) to produce ethanol and biobased polymers for packaging, hygiene and medical markets.
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As per the deal, Mitsui will become a 50% equity interest partner in Dow’s sugar cane growing operation in Santa Vitoria, Minas Gerais in Brazil.
During the first phase a new sugarcane-to-ethanol production facility will be constructed in Santa Vitoria, Minas Gerais in Brazil.
Once operational, this platform will be back-integrated into renewable sugar cane, enabling environmentally sustainable production of high performance plastics with a reduced carbon footprint.
Dow Latin America president Pedro Suarez said with Mitsui, they will be fortifying their base for advancing renewable materials.
The transaction is expected to close before the end of 2011, pending the receipt of certain regulatory approvals.
Financial details are not being disclosed.