Corrected: Brazil bank investing R300m in sugarcane researcher

26 March 2014 20:39  [Source: ICIS news]

Correction: In the ICIS story headlined "Brazil bank investing $300m in sugarcane researcher" dated 26 March 2014, please read in the headline and first paragraph ... R300m ... instead of ... $300m. A corrected story follows:

HOUSTON (ICIS)--Brazil’s investment bank (BNDES) will invest Brazilian reais (R) 300m ($130m) in sugarcane researcher Centro de Tecnologia Canavieira’s (CTC) efforts to accelerate projects to increase productivity in agricultural and industrial biotechnology, the BDNES announced on Wednesday.

The bank’s support was approved under a programme that has invested to date R1.57bn to increase sugarcane and ethanol production.

CTC is a leader in Brazil’s sugarcane-to-ethanol industry and has participated in major technological developments since its founding in 1969, the BDNES said in a news release.

($1 = R2.30)

By: Jeremy Pafford
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