Brazil bank grants loan to firm building recycled nylon unit

06 June 2013 21:29  [Source: ICIS news]

MEDELLIN, Colombia (ICIS)--Brazil’s national development bank BNDES has granted polymers start-up firm H3 Polimeros a Brazilian reais (R) 3m ($1.4m, €1.1m) loan for the construction of an industrial unit that will produce nylon from recycled textile waste, the bank said on Thursday.

The facility, which will be in the municipality of Bom Jesus dos Perdoes, Sao Paulo state, will have an installed capacity of 3,800 tonnes/year of nylon.

Production will be destined for the automotive, electronic and furniture industries, among others, and will generate 200 jobs, the bank said.

The financing of the project will be carried out within the framework of BNDES’s Proplastico programme, the bank said.

The government-backed programme aims to boost domestic production of processed plastics, packaging, equipment and moulds for the plastics sector, and promote recycling within the industry, according to information on the bank’s website.

($1 = €0.76, $1 = R2.14)

By: Simon West

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