IIC mulls Brazil bioenergy loan
The Inter-American Investment Corporation (IIC) is considering a US$55mn loan to Brazilian sugar and bioenergy firm Vale do Paraná, according to documents on the lender's website.
The proposed operation includes a tenor of up to eight years and a 1.5-year grace period, IIC said.
Proceeds would be used for investments in sugarcane plantations, a 850t/d sugar factory and a 48MW power cogeneration plant, it added.
IIC, an affiliate of the Inter-American Development Bank (IDB), said its board would decide whether to approve the loan on August 25.
In 2016, Vale do Paraná processed 1.6Mt of sugarcane and produced 139,000m3 of ethanol, reporting sales revenue of US$79mn.
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News in: Oil & Gas (Brazil)
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