Development bank to finance fertilizer factory in south of Brazil

The Brazilian Social Development Bank (BNDES) will finance the construction of a fertilizer factory and accessory storage facilities in Paranaguá for BRL 60.9 million. The city in the south of the country is an important entry point for imported raw materials, informed the bank on October 26.

The Adubos Araguaia factory will produce and store agricultural inputs, allowing the company to expand its logistics into new agrarian markets in the South, Southeast, and Central regions.

With insufficient production to be self-sufficient, Brazil imports 85% of all fertilizers used in agribusiness.

According to BNDES, the construction of the factory will allow imported raw materials, which represent 80% of the inputs used in Araguaia’s production of fertilizers, to arrive directly at the city they will be processed into fertilizers. Highways will transport the national raw materials to the new plant.

Adubos Araguaia produces two lines of fertilizers: NPK (nitrogen, phosphorus, and potassium), which combine basic plant nutrients, and the special ones, created through the company’s formulas containing other additives.

The funding will be provided to Adubos Araguaia through the BNDES Finem program, which is designed to fund investment projects in productive capacity across the economy.

Source: Money Times

To read the full original article, please go to: https://www.moneytimes.com.br/bndes-vai-financiar-construcao-de-fabrica-de-fertilizantes-em-paranagua/

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