Petrobras (PBR) said Friday its board approved a final investment decision for a biorefining project with an investment of about $1.2 billion at its Presidente Bernardes refinery in Sao Paulo state.

The plant will have a production capacity of up to 15,000 barrels per day of bio-jet fuel and renewable diesel, with operations expected to begin in 2030, the company said.

Petrobras said construction is expected to start by the end of 2026, and the project is included in its 2026-2030 business plan.

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