Acelen, a Mubadala company, will increase diesel production at Brazilian refinery Mataripe 10%

Celso Ferreira, the Chief Operations Officer of Mubadala's Acelen, said that it was aiming to increase the diesel production capacity at its Brazilian refinery Mataripe in June by 10% as part of its 143 million reais (?736 millions) investment plan for this year.

Mataripe, Brazil’s second largest refinery, which accounts for 14% of the country’s capacity, will increase its?diesel output to 13,700 cubic metres a day, up from 12,400.

Brazil's diesel imports are rising due to a growing demand for fuel. According to data from StoneX, Brazil imported 29% of its diesel last year.

Ferreira, in an interview on Tuesday, said that Acelen will 'invest 4 billion reais into the unit by 2030. The focus is on maintenance, safety and energy efficiency, as well as decarbonization.

The refinery's diesel production capacity will increase by 25% after the expansion.

Acelen Renewables is a subsidiary of?Abu Dhabi Mubadala Investment Company. Plans to build a nearby biofuels refinery are also being developed by Acelen Renewables. Around 90% of the sustainable aviation fuel (SAF), which will be produced initially, is already contracted.

The site is expected to begin operations in 2028. It has a capacity of?1 billion? liters?of biofuels per year. ($1 = 5.1502 Reais) (Reporting and writing by Fabio Téixeira; editing by Susan Fenton).

(source: Reuters)