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The bank's export chief, Renato Sucupira, said BNDES will also finance a venture to produce ethanol, and a separate project to expand Cuba's nickel industry.
In the near future, one important factor will be how BNDES maximizes the use of alternative sources of capital so that it expands the country's capacity to accommodate the targeted level of investment.
In addition to the BNDES loan, Adecoagro obtained a R$130.
Brazil's state-owned development bank BNDES will reduce interest rates on credit lines for companies to finance their working capital, Dow Jones has reported, citing a separate report by Folha de S.
The BNDES should invest about $28 billion, spurred on by large investment projects in industries such as steel and petrochemicals.
BNDES sees great potential in green-chemistry projects that add new technologies to the sugarcane sector, where Brazil is competitive and the world leader," said Roberto Zurli Machado, Director of BNDES.
We are excited about this framework agreement with BNDES, which will help companies in both of our countries to realize the great potential of U.
Our ground-breaking agreement with BNDES extends that legacy of innovation, and we are confident that our loyal Owners and Members will derive significant benefits from this financing.
To develop industrial activities in the states of Sao Paulo, Pernambuco and Espirito Santo, BNDES gave $24.
The BNDES Brazilian economic and social bank has indicated that it is in a position to extend a line of credit to the carriers that could help them increase the current number of jobs and become more competitive against foreign airlines.
The corporate and commercial loan portfolio of BNDES grew to BRL365 billion at the end of 2010 from BRL169 billion at the end of 2007.
ET Solar managing director for Latin America Jaime Portaluppi said: The consortium grants access to the Brazilian market with compliance with BNDES content requirements.