Brazil investment bank OKs funds for anhydrous ethanol project

29 October 2013 22:57  [Source: ICIS news]

CAMPINAS, Brazil (ICIS)--Brazil development bank BNDES has approved financing of Brazilian reais (R) 145.9m ($66.9m, €48.2m) to sugar and ethanol company Usina Batatais, the bank announced on Tuesday.

The money will be used to install a dehydration tower to produce anhydrous ethanol at Usina's plant in the city of Lins in Sao Paulo state, the bank said.

When completed, the tower will have a 500 cubic metres (132,000 gal) of anhydrous ethanol capacity, the BNDES said. 

About 6,406 hectares (15,817 acres) of sugarcane are expected to be planted at the Lins plant as a way to renew the company's sugarcane plantations.

BNDES said other investments by the company include an increase in white sugar production at a Sao Paulo city plant.

($1 = €0.72, $1 = R2.18)

By: Leo Siqueira
+1 713 525 2600

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