BNDES supports project to expand corn ethanol capacity in corn ethanol
Brazil’s development bank BNDES approved R$300 million ($55.47 million) to expand Neomille’s corn ethanol plant in Chapadão do Céu. The project will boost output to 527,000 cubic meters, add distillers grains and corn oil capacity, create new jobs, and cut 101,000 metric tons of CO₂ annually.
The Brazilian Bank for Economic and Social Development (BNDES) on Oct. 28 announced it has approved R$300 million ($55.47 million) in financing to support the expansion of corn ethanol production at Neomille SA’s facility in Chapadão do Céu, Brazil.
The funding will help the company increase corn ethanol production capacity to 527,000 cubic meters (139.22 million gallons). The expansion will also enable the production of up to 265,000 metric tons of distillers grains and 21,000 metric tons of corn oil.
The financing provided by BNDES include R$240 million from the Climate Fund and $60 million from the BNDES Finem Incentivada line of credit.
Once operational, the expansion project is expected to create 91 permanent direct and indirect jobs. During construction, the number of temporary indirect jobs could reach 277. Neomille estimates the project will avoid the emissions of 101,000 metric tons of CO2 annually.
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Source : Ethanol Producer Magazine
