BNDES Approves $222 Million in Loans for Brazil Ethanol Plants

(Bloomberg) — Abengoa SA and three other companies were
approved to receive about 592 million reais ($222 million) in
government loans for four sugar and ethanol projects in Brazil.

Abengoa Bioenergia Agroindustria will receive 309.6 million
reais for a project capable of producing 64 million liters (16.9
million gallons) of ethanol per crop, Brazil’s Banco Nacional de
Desenvolvimento Economico e Social, or BNDES, said in an e-mailed statement today.

Biovertis Producao Agricola Ltda. will get 139.3 million
reais to produce energy-intensive sugarcane. Raizen Energia SA
will get a 4.5 million-real loan for technical improvements to
reduce costs at a project, and Cerradinho Bioenergia SA’s 138.8
million reais will go toward buying machinery and research and
development.

To contact the reporter on this story:
Vanessa Dezem in Sao Paulo at
vdezem@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Tina Davis, Carlos Caminada

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