ANNOUNCEMENT 04 Apr 2019
The National Bank for Economic and Social Development (i.e. BNDES by the acronym in Portuguese) approved a loan for Cerradão Group.
NUMBER OF INTERVENTIONS
BNDES News Agency. Agência BNDES de notícias. "Com financiamento de R$49,3 milhões do BNDES, Grupo Cerradão investe em energia renovável" de 04/04/2019. Available at: https://agenciadenoticias.bndes.gov.br/detalhe/noticia/Com-financiamento-de-R$-493-milhoes-do-BNDES-Grupo-Cerradao-investe-em-energia-renovavel/
On 4 April 2019, the BNDES has announced the allocation of BRL 49.3 million (over USD 12.7 million at the time of the announcement) to Grupo Cerradão.
The Brazilian group plans use these resources to finance 69% of the costs of a project that will increase the biomass power generation capacity as well as increase the ethanol production and storage capacity and expand and renew the group's sugarcane fields.