Brazil's BNDES Approves 500 Million Reais in Funding for FS Corn Ethanol Plant

en.Wedoany.com Reported - On June 15, the Brazilian Development Bank (BNDES) approved 500 million reais in funding to support FS in building a new corn ethanol plant in Campo Novo do Parecis, Mato Grosso.

The plant will have an annual processing capacity of 1.2 million tons of corn, producing 540 million liters of ethanol per year. The total project investment is 2.07 billion reais, with the bank-approved funding accounting for 24.2% of the total. Part of the funds come from the Climate Fund (Fundo Clima) and the BNDES Finem credit line, which is specifically designed to support food and biofuel production.

According to BNDES, the plant will also produce 390,000 tons of dried distillers grains (DDG) annually for the animal feed industry. The project also includes a second phase, planning to double processing capacity, at which point corn processing will reach 2.4 million tons, and annual ethanol production will increase to 1.08 billion liters.

FS currently operates three other plants in Mato Grosso, located in Lucas do Rio Verde, Sorriso, and Primavera do Leste.

The construction of this corn ethanol plant will help promote the local biofuel industry and drive related animal feed sectors. In the funding provided by BNDES, the Climate Fund portion supports emission reduction projects, while the Finem credit line targets food and biofuel production. FS stated that the new plant will continue its operational experience in Mato Grosso.

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