News blog
Viridas
- BY: Andrew Hore |
- POSTED: 23/02/2009 |
Viridas has signed up Cazenave to help it develop its jatropha plantation in Brazil.
Cazenave has been managing South American agricultural projects for more than four decades. Cazenave will hire and train the management and employees of the plantation. This helps to make the jatropha plantation an increasingly realistic prospect.
Viridas has signed a 10 year jatropha oil supply & development agreement with INEOS Enterprises, which will buy up to 60,000 tonnes of jatropha oil each year. There is a two year break clause - the period starts when commercial production begins. Commercial levels of production should commence in 2013.
At 12.75p a share, Viridas is valued at £3.12m.
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