Petrobras in recent times signed a deal to supply Toyota Tsusho Corporation (TTC) with hydrated ethanol for ten years. For this reason, The Brazilian sugarcane ethanol will be used as feedstock in a chemical ethanol scheme that TTC is arrange and deploying with a general and local partner in Taiwan to manufacture Bio-PET. Bio-PET is polyethylene terephthalate; by weight it comprises of 70% terephthalic acid and 30% monoethylene glycol. Bio-PET is prepared a substitute monoethylene glycol with a biological raw material consequent and derived from sugar cane. Toyota Motor recently proclaims that it will increase its use of Bio-PET in vehicles.
Petrobras will distribute 143,000 cubic meters (143 million liters, 37.8 million gallons US, of ethanol per year, and the agreement is predictable to be value a number of $820 million. This is first long-term ethanol supply contract of Petrobras pronounced by the company, among the largest worldwide players in the industry. Petrobras Biocombustível will be responsible and accountable for providing the contractual quantity through a contract with Petrobras.