Consorcio Nobis, an Ecuadorean agricultural and energy holding company, said it plans to invest $200 million in the next three years to produce ethanol in Peru or Costa Rica.
The Guayaquil, Ecuador-based company is seeking to take advantage of free-trade agreements those countries have with the U.S., Chief Executive Officer Roberto Dunn said today in an interview at the Bloomberg Ecuador Economic Summit in Quito.
“Ecuador doesn’t yet have a strictly defined path as far as free trade is concerned,” said Dunn. “We won’t be competitive with the world if we build the plant here.”
Nobis, which has total annual sales of about $600 million, will make a decision on the location of the plant and a sugar- cane plantation by June, Dunn said. (Bloomberg)