Brazil's BNDES OKs $241M loan for biorefinery project

01/14/2013 | Bloomberg Businessweek

Brazilian development bank BNDES authorized a $241 million loan to Adecoagro for the development of a sugarcane mill and biorefinery in the country's center-west region. The proposed facility will have the capacity to handle 4.1 million metric tons of cane annually and generate up to 120 megawatts of electricity, Adecoagro said. Brazil needs to ramp up investments in additional ethanol capacity to avoid a shortage by 2018, said Salim Morsy, an analyst at Bloomberg New Energy Finance.

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