SAO PAULO, BRAZIL — FS Bioenergia, a joint venture between Tapajos Participacoes S.A. and U.S.-based Summit Agricultural Group, has announced plans to build a second corn-based ethanol plant in Sorriso, in northern Mato Grosso, Brazil. The company intends to invest 1 billion reais (U.S. $308 million) in the project.

Last year, FS Bioenergia opened a corn-based ethanol plant in Lucas do Rio Verde, which is considered a key soy and corn producing part of Mato Gross.

According to FS Bioenergia, the Sorriso plant will be larger than the facility in Lucas do Rio Verde, processing 1.8 million tonnes of corn per year and producing 680 million liters of ethanol, 500,000 tonnes of corn meal, and 20,000 tonnes of corn oil.

Combined, the two plants will be capable of producing 1.2 billion liters of ethanol, 900,000 tonnes of corn meal and 35,000 tonnes of corn oil per year, the company said.

“The Sorriso region and Mato Grosso state as a whole are extremely important and strategic for FS Bioenergia, and being close to these … producers will give us even more input to innovation and continue to produce with the quality we are looking for,” said Henrique Ubrig, chief executive officer of FS Bioenergia. “In addition, we want the opportunity to buy reliable and quality corn and biomass for these producers.”

FS Bioenergia is the first ethanol plant in Brazil that uses corn in 100% of its production.