Petrobras Signs Long-Term Contract To Supply Ethanol To Toyota Tsusho

Brazilian oil giant Petroleo Brasileiro SA, or Petrobras, said late Friday it has signed a 10-year contract worth $820 million to supply ethanol to Toyota Tsusho Corp. (8015).

Petrobras said this is its first long-term contract for ethanol supply.

The contract with Toyota Tsusho foresees supply of 143,000 cubic meters a year of ethanol, Petrobras said in a statement. Toyota will use the Brazilian ethanol as a raw material in a thermoplastics polymers plant it is building in Taiwan, Petrobras said.