'Oil Tycoons,' The Arab Royal Family Will Produce Biofuels in Brazil and Generate Jobs With Investments of R$ 68.3 Billion

‘Oil Tycoons,’ The Arab Royal Family Will Produce Biofuels in Brazil and Generate Jobs With Investments of R$ 68.3 Billion

Written by Valdemar Medeiros

Published on 09/05/2024 at 23:10

Foto: Dall-e

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Mubadala Capital, from the Arab royal family known as the ‘Oil Magnates,’ is now looking to invest billions of reais in biofuels production in Brazil.

Mubadala Capital, based in Abu Dhabi, plans to allocate about US$ 13.5 billion (equivalent to about R$ 68.3 billion) to an ambitious biofuels project in Brazil over the next ten years. This investment from the ‘Oil Magnates’ is part of a broader strategy in the country, which also includes the initiative to establish a new stock exchange.

Mubadala Capital Will Focus on Biofuels for Aircraft

The information was disclosed, for the first time, in an interview with the Financial Times, by the head of Mubadala Capital in Brazil. According to the announcement, the full budget for its main project to produce renewable diesel and “sustainable” aviation kerosene – The biofuels, mainly using non-food plant material, will be divided into modules that seek to align industrial plants with agricultural areas for raw material supply for production.

The project of the ‘Oil Magnates’ is bold and shows the Arab Royal Family’s goal to invest in Brazilian agribusiness.

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Mubadala Capital Has Already Invested US$ 6 Billion in Biofuels in Brazil

According to the head of Mubadala Capital in Brazil, Oscar Fahlgren, it’s all about raw material that is, in fact, agriculture. And Brazil is probably the best-positioned country in the world when it comes to agricultural proficiency due to its climate and fertile soil.

The ‘Oil Magnates’ plan to convert an existing oil refinery in Bahia, Brazil, purchased from Petrobras in 2021. The company will invest US$ 13.5 billion over 5 to 10 years, funded by a combination of equity and loans, according to Oscar.

This is an extremely important capital project, emphasizes the executive, highlighting the great investment opportunity in the transition to green energy in Brazil, with biofuels. The initial investment in biofuels was only a part of the total development cost announced by Mubadala Capital.

The ‘Oil Magnates’ focus on biofuels is supported by US$ 6 billion already invested in the country, which represents about a quarter of their global portfolio. Two-thirds of the company’s capital in Brazil comes from external investors, with the remainder from Mubadala.

Mubadala’s Trajectory in Brazil

The sovereign fund entered Brazil in 2012, investing US$ 2 billion in Eike Batista’s companies before his downfall. It then became the primary creditor of Batista’s EBX group, taking ownership of significant assets including stakes in ports and mines.

Currently, Mubadala Capital owns assets in Brazil, such as the organization of the São Paulo Formula 1 Grand Prix. Fahlgren describes the company’s approach in the country as contrary, remaining steadfast during economic and political crises over the past decade. The company also closed its second fund focused on Brazil, accumulating US$ 710 million in commitments in the last year.

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Hilmar R Hertel(@hilmarhertelyahoo-com-br)

#66139

23/10/2024 00:49

A produção de biodiesel está engatinhando no Brasil, mas com investimentos dessa monta e com a experiência desse grande grupo, vemos a possibilidade de novos tempos na perdição de combustíveis e outras energias no nossos país.

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‘Oil Tycoons,’ The Arab Royal Family Will Produce Biofuels in Brazil and Generate Jobs With Investments of R$ 68.3 Billion

Mubadala Capital, from the Arab royal family known as the ‘Oil Magnates,’ is now looking to invest billions of reais in biofuels production in Brazil.

Mubadala Capital Will Focus on Biofuels for Aircraft

Mubadala Capital Has Already Invested US$ 6 Billion in Biofuels in Brazil

Mubadala’s Trajectory in Brazil

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‘Oil Tycoons,’ The Arab Royal Family Will Produce Biofuels in Brazil and Generate Jobs With Investments of R$ 68.3 Billion

Mubadala Capital, from the Arab royal family known as the ‘Oil Magnates,’ is now looking to invest billions of reais in biofuels production in Brazil.

Mubadala Capital Will Focus on Biofuels for Aircraft

Mubadala Capital Has Already Invested US$ 6 Billion in Biofuels in Brazil

Mubadala’s Trajectory in Brazil

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BRICS is preparing a payment system inspired by the Brazilian PIX that will allow direct transactions between countries using national digital currencies without relying on the dollar or Western banks as intermediaries.

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On the coast of China, fishermen received an official reward after finding 10 foreign underwater devices capable of “stealing secrets” in just two years, showing that the silent war for the seabed has already reached the nets of those who rely on fishing.

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