News International Sugar Journal

Brazil – GranBio secures a loan of U$150 million for a cellulosic ethanol plant [Registered]

GranBio Investimentos SA has secured a loan of 300.3 million reais ($149.6 million) from Banco Nacional de Desenvolvimento Economico & Social (BNDES) , Brazil’s development bank to build cellulosic ethanol plant, reported Bloomberg. Feedstock is expected to be both cane bagasse and crop residues. BNDES owns 15% of Sao Paulo-based GranBio. The 350 million-real (U$174.5 million) plant is planned for the northeastern city of Sao Miguel dos Campos. The plant capacity is 82 million litres. The cellulosic ethanol production technology will allow mills to produce additional 45% more fuel ethanol.…

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