BNDES loans $29.3M for two biofuel expansion projexts
In Brazil, the National Bank for Economic and Social Development (BNDES) approved two credit operations that amount to R$ 150 million for the Cerradinho Group, focused on financing investments in technological innovation, industrial modernization and expansion of biofuel production in its units, located in Chapadão do Céu, in the Southwest of Goiás, and Maracaju, in the Southwest of Mato Grosso do Sul. The financings are part of the BNDES Mais Inovação program, which supports the implementation of investment projects in innovation and digitalization.
The first operation, of R$ 50 million, is intended for Neomille S.A., a subsidiary of the group focused on the production of corn ethanol and co-products. The resources will be used for the acquisition of machinery, equipment and technological services with innovative characteristics, all accredited in BNDES.
The second operation, worth R$ 100 million, involves Cerradinho Bioenergia S.A. and Neomille S.A. and will enable new investments in innovative capital goods, including industrial and agricultural equipment, with national technology.
Category: Fuels
