The Minister for Petroleum and Mining, Eulogio Del Pino, announced on Tuesday that the agricultural subsidiary of Petroleos de Venezuela (Pdvsa), PDVSA Agricultural, has signed a memorandum of understanding with sugar factories to develop joint projects of production of sugar and ethanol.
The signing took place at the meeting of the National Council of Productive Economy at the Miraflores Palace, with the participation of the Rio Turbio Sugar plant, Central La Pastora and the Association of Rural Producers of Portuguesa state (Asoportuguesa).
During the meeting, Del Pino indicated that the implementation of these projects involves an investment of 16 billion bolivars, with a capacity to produce 90 tonnes of refined sugar per year.
The Minister said that this alliance will allow three ethanol plants – a chemical composite obtained from the fermentation of sugars that can be used as fuel- that will generate 800,000 liters of biofuels per day, equivalent to 5,000 daily barrels of fossil fuel.
“The idea is that we produce together: the Government, the private productive sector and the organized rural workers (…) These initiatives involve the creation of more than 12,600 direct jobs,” explained Del Pino.
The signing of these agreements has as a goal to jointly develop activities related to the production of fuel ethanol to be used in the Venezuelan automotive fleet, the supplying of energy to the National Electricity System (SEN), the production of balanced foods for animals, as well as the exporting of products in order to get foreign exchange.
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