DJ Noble To Invest $300M In Brazil Ethanol Mill - Report

SAO PAULO, Jun 23, 2008 (Dow Jones Commodities News via Comtex) -- NOBGF | Quote | Chart | News | PowerRating -- Singapore-listed Noble Group (N21.SG) plans to invest $300 million in a new sugar and ethanol mill in Brazil's Sao Paulo state, newspaper Valor Economico reported Monday.

The mill will have the capacity to crush around 8 million metric tons of sugarcane, reported Valor.

"Noble ranks Brazil among its top investment priorities," the newspaper reported Noble's Vice President Harry Banga as saying.

The new mill is expected to produce mainly ethanol, and should begin operation in 18 to 24 months, Valor reported.

Noble, which manages the global supply chain of agricultural and energy products, expects to generate $40 billion in revenues this year compared to $23 billion in 2007, the newspaper reported.

Sao Paulo is Brazil's largest sugarcane-producing state, and Brazil is the No. 1 exporter and producer of sugarcane-based ethanol.

By Tony Danby; Dow Jones Newswires; 55-11-6847-4523; brazil@dowjones.com

(END) Dow Jones Newswires

06-23-08 1513ET

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