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Novozymes, the world's largest enzymes producer, has released a report predicting that China can develop a cellulosic ethanol industry that employs 6 million people by 2020. Jointly prepared with the consulting firm McKinsey & Co., the report estimates that China can produce ethanol from agricultural waste at a cost of $2.50 per gal by 2010 and $1.50 per gal by 2015. In February, Novozymes and its Chinese partner COFCO signed a deal with the oil giant Sinopec to commercialize ethanol made from corn stover.
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