Shell and Cosan have signed a memorandum of understanding with the intention to form a joint venture in Brazil, for the production of ethanol, sugar and power, and the supply, distribution and retail of transportation fuels. Under the terms, both companies will contribute certain existing Brazilian assets to the joint venture. With annual production capacity of about 2bn litres and with opportunities for growth, the joint venture will form one of the world's largest ethanol producers, the companies claim.
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