Petroleo Brasileiro SA (Petrobras), Brazil’s state-owned oil company, has joined with six partners to undertake building a pipeline and waterway to transport ethanol from Brazil’s sugarcane fields to local markets and for export. The group of companies will form a new company that will invest 6 billion reais (US$3.61 billion) in the project. Logum Logistica SA will be responsible for creating a multi-modal and storage and shipping terminal system which will link the main ethanol-producing regions in Brazil to the Paulinia Refinery. Upon completion, the new waterway and pipeline system will have an installed capacity of up to 21 million cubic meters per year of ethanol. (March 2,2011)