Are you sure?

Investor Soros visits ethanol plant in Brazil

Stock investor and financial speculator George Soros on Monday visited a sugar and ethanol plant he owns in Brazil.

The plant, located in Monte Alegre of the Minas Gerais state, was acquired in 2006 by Adeco, of which Soros is the main shareholder. The plant produces 30 million liters of ethanol and 80 million tons of sugar a year.

Adeco is also implementing a project in the state of Mato Grosso do Sul, where three plants will be built by 2015 to process about 11 million tons of sugarcane annually. Soros came to the country to participate in the Sao Paulo Ethanol Summit 2007, an event held by the Union of Sugarcane Industries on June 4-5. The meeting aims to discuss upcoming challenges concerning energy and the social, economic and environmental consequences of the use of ethanol as an alternative solution. (people.com.cn)