O National Bank for Economic and Social Development (BNDES) informed this Tuesday that it approved two financings to the suzano (SUZB3) in the total amount of 2.31 billion reais.
“The operations are intended to support the cultivation of eucalyptus in seven states and support the industrial modernization and production capacity in seven of the company’s factories,” said the development bank, in an emailed statement.
Of the total amount, BRL 658.65 million will be allocated to Suzano’s factories in Jacareí (SP), Limeira (SP), Suzano (SP), Aracruz (ES), Três Lagoas (MS), Mucuri (BA) and Imperatriz ( BAD).
According to the BNDES, the funds are part of an investment plan of 1.18 billion reais to modernize a production line and reduce consumption of natural gas and chemicals used in pulp production.
The remaining 1.66 billion reais will go to support the cultivation of eucalyptus in the company’s forestry units in Holy Spirit, Bahia, Mato Grosso do Sul, Minas Gerais, maranhão, For and Sao Paulo.
The amount to be contributed by the BNDES is equivalent to 80% of the total investment, 2.07 billion reais.
Suzano has an annual production capacity of 10.9 million tons of pulp and 1.4 million tons of paper, according to BNDES.
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Source: Moneytimes
I am a journalist with over 6 years of experience working in the news industry. I currently work as an author for Global Happenings, and my coverage focuses on Technology news. I have written for various publications, including Reuters, The New York Times and The Guardian.
