Boa Vista to Get $178 Million for Brazil Expansion, Estadao Says

Usina Boa Vista SA, a Brazilian sugar-cane mill, will receive 360 million reais ($177.7 million) from national development bank Banco Nacional de Desenvolvimento Economico e Social to expand crop plantations and processing capacity, O Estado de S. Paulo reported.

Usina Boa Vista, in the center west municipality of Quirinopolis, will be able to crush 7 million metric tons of cane in 2015, up from 2.5 million tons now, the Sao Paulo-based newspaper said today. It cited Fabio Venturelli, president of Nova Fronteira Bioenergia SA which controls the plant.

Nova Fronteira is a joint venture between sugar-cane processor Sao Martinho SA (SMTO3) and state-controlled oil company Petroleo Brasileiro SA (PETR4), according to the article.

To contact the reporter on this story: Stephan Nielsen in Sao Paulo at snielsen8@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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