IDB mulls over USD 52.2m financing for Brazil Usina Batatais SA - report

(SeeNews) - Feb 1, 2013 - The Inter-American Development Bank (IDB) is studying a loan worth BRL 104 million (USD 52.2m/EUR 38.2m) requested by Brazilian sugar and ethanol maker Usina Batatais SA, local daily Valor Economico reported yesterday.

The company, which has two sugar and ethanol mills in southeastern Sao Paulo state, is planning to renew approximately 48,600 ha (120,093 acres) of its sugar cane plantations and to invest in technological improvements in order to boost its crystal sugar and anhydrous ethanol output, the daily wrote.

The project, to be implemented in the period between 2013 and 2017, is budgeted at a total BRL 588.7 million.

According to Valor, Usina Batatais SA has also applied for a BRL 154 million financing from Brazil's National Social and Economic Development Bank (BNDES) in order to guarantee the envisaged upgrades.

(BRL 1 = USD 0.502/EUR 0.367)

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