Investment into Brazil industry up substantially in H1: bank

16 August 2013 19:54  [Source: ICIS news]

HOUSTON (ICIS)--Fuelled partially by spending in chemical sectors, Brazil's national investment bank (BNDES) invested $88.3bn (€66.2bn) in projects in the first half of 2013, up 65% year over year, according to statistics made available on Friday.

Financing for machinery and equipment across all sectors increased 260% year over year to $42.6bn thanks to the Program Investment Support (PSI) programme, the BNDES said.

The bank highlighted expanded investment in chemical, petrochemical, mechanical and transport equipment.

The BNDES has provided financial backing to many petrochemical and energy projects of late, including $2.4bn into the sugar-ethanol industry, $151.7m for a cellulosic ethanol plant and $34.4m for an energy co-generation unit.

($1 = €0.75)

By: Jeremy Pafford
+1 713 525 2653

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