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- Mitsui & Co., Ltd.
Corporate Communications Division
Mitsui & Co., Ltd., on February 27th, signed a Memorandum of Understanding, with Petrobras (Petroleo Brasileiro S.A.), the national petroleum company of Brazil and Brazilian Construcoes e Comcio Camargo Correa S.A. to undertake technical and economic viability studies for the deployment of a pipeline infrastructure to transport ethanol produced in Midwestern and Southeastern Brazil.
Mitsui & Co., Ltd. signed a MOU with Petrobras in April of 2006 to carry out a feasibility study for the promoting the production of bio-ethanol and related products in Brazil and for the marketing of such into the international market. The Memorandum of Understanding with Petrobras and Construcoes e Comcio Camargo Correa S.A. is a part of the study underway with Petrobras since April of 2006.
The project to be studied is for the construction of a network of pipeline that will connect the Senador Canhedo municipality, in Goias, to Petrobras' terminal in Sao Sebastiao, in the State of Sao Paulo, going through the fuel distribution base located at the Paulinia Refinery (Replan).
In the study we hope to see whether it will be possible to reduce the transportation costs of the ethanol produced in central Brazil to attend to the foreign market as ethanol is regarded as one of the most promising renewables energies and its demand is expected to increase rapidly in the world. We hope to be able to expand the scope for our study to cover the integrated supply chain from production and inland logistics in Brazil, overseas transportation from Brazil, to global marketing through the conclusion of the MOU with Petrobras and Construcoes e Comcio Camargo Correa S.A.
This press release includes forward-looking statements about Mitsui. These forward-looking statements are based on the current assumptions and beliefs of Mitsui in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. The risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest annual report on Form 20-F, which has been filed with the U.S. Securities and Exchange Commission.
This press release is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.