Brazil, China reach agreement on biodiesel production

Representatives of China and Brazil have signed an agreement on the production of biodiesel, Agência Brasil reports.

The Brazilian news agency says the agreement was signed at a meeting in Brasília.

The meeting was told that the Chinese company Biostar would acquire 80 percent of Brazilian biodiesel company Biopar Produção de Biodiesel Parecis Ltda in the state of Mato Grosso and rename it New Biopar.

The report says the agreement lets Brazil use newly developed Chinese biofuel technology.

The Alberto Luiz Coimbra Institute for Graduate Studies and Engineering Research in Brazil tested the technology and judged it commercially viable.

Brazil is committed to increasing the proportion of the energy it uses that biofuel accounts for to 18 percent or so by 2030, Agência Brasil says.