Brazil's largest sugar and alcohol producer Cosan would start investing in the external market, especially following an agreement signed by Brazilian and U.S. authorities last week during President George W. Bush's visit to the country.

Cosan's Director of Finance Paulo Diniz said on Friday that the cooperation agreement will stimulate ethanol production in different regions of the world, such as the Caribbean and Central America.

He expected those countries to be allowed to export the fuel made from sugarcane to the United States without facing the trade barriers currently imposed on Brazil, which would create an opportunity for Cosan to settle abroad.

Diniz added that Cosan's internationalization plans include sugarcane culture as well as the ethanol production.

Cosan became Brazil's biggest sugarcane company following a series of acquisitions of plants in the central-southern region. It currently runs 17 plants and is responsible for 12 percent of the region's production.

From November 2006 to January 2007, Cosan reported revenue of 970 million reais (464 million U.S. dollars), with net profits of 63 million reais (30 million dollars). The company currently processes 40 million tons of sugarcane per year.

Source: Xinhua