International Sugar Journal

Brazil – BNDES to finance two projects to upgrade cane production worth US$32 million [Full subscriber]

The Brazilian development bank BNDES recently approved financing of $ 98.7 million (US$ 24.48 million) to Canápolis Açúcar e Etanol SA and BRL30 million (US$7.46 million) to Vale do Paracatu Distillery to expand and upgrade their cane production operations.

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Serbia – Sunoko to invest €1 million in establishing a research unit for beet production [Full subscriber]

Serbian sugar producer Sunoko, part of diversified conglomerate MK Group, plans to invest €1 million (US$1.1 million) in the establishment of a research centre for sugar beet production, according to the company’s general manager Slobodan Kosutic.

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Brazil – Adecoagro investing US$109 million in expanding and upgrading cane operations [Registered]

The Adecoagro group will be investing BRL445 million (US$108.7 million) in expanding and upgrading sugarcane production operations at its plantations serving the company’s two plants in lvinhema. and Angelica, both in Mato Grosso do Sul.

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Zimbabwe – US$40 million invested in expanding cane production [Full subscriber]

In a bid to expand sugar production and support rural development, President Mnangagwa commissioned a ZW$600 million (US$40 million) Kilimanjaro Sugar Cane project on 9th November, according to local press reports.

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Tanzania – Local billionaire to invest US$148 million in the cane sugar sector [Full subscriber]

The Tanzanian businessman Mohammed Dewji is to invest US$ 148 million in the sugarcane industry, according to the Russian press wire Regnum. This is part of the US$375 million his company is planning to invest in the over the next five years.

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LanzaTech secures investment of US$72 million from Novo Holdings to expand its carbon capture technology [Full subscriber]

The biotech start-up LanzaTech has secured an investment of US$72 million from Novo Holdings to scale-up its production of sustainable fuels and chemicals, according to the press release from the two firms.

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Spain – Azucarera to invest €69 million over the next five years in its 4 beet sugar factories [Full subscriber]

The AB Sugar-owned Azucarera company is to invest €69 million over the next five years to upgrade its four beet sugar factories, according to local press reports.

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Sweden – Nordzucker invests €100 million to modernise its operations [Full subscriber]

Germany’s second-largest sugar producer Nordzucker will consolidate its sugar production in southern Sweden, closing one factory and investing €100 million in another. The move involves an undisclosed number of job losses, according to the company statement.

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Eswatini – Local banks invest US$139 million to drive sugar industry’s productivity [Full subscriber]

Standard Bank and Nedbank in the Kingdom of Eswatini have invested two billion Emalangeni (US$139 million) to expand the Royal Swaziland Sugar Corporation (RSSC) project, reports African Daily Voice.

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Brazil – Raizen to invest around US$700 million for its 2019/20 operations [Registered]

Raizen Energia, a joint venture between Cosan and Shell, intends to invest between BRL2.7 billion (US$691 million) and 2.9 billion (US$742 million) in 2019/20 for a range of its operations compared with BRL2.6 billion -2.7 billion in 2018/19, reported Valor Economico.

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