Dow Chemical, Mitsui form ethanol joint venture

Dow Chemical Co. and Mitsui & Co. Ltd. have formed a partnership to convert sugar cane to ethanol and plastic in Brazil. Mitsui will buy a 50 percent stake in Dow’s Brazilian sugar cane operations, with an initial investment of US$200 million. The Nikkei business daily said the venture could cost more than US$2 billion, with mass production of biopolymers and other sugarcane-based products set to begin in 2015 and annual output slated at 350,000 tons. This is the second joint venture for Dow with the Japanese firm, with which the company produces chlorine in Texas in the United States. (July 20,2011)