Sao Martinho Among Recipients of Brazil Sugar-Cane FundsStephan Nielsen
Sao Martinho SA is among three sugar-cane processors that will get a total of 356.2 million reais ($158.6 million) from Brazil’s development bank to help plant crops.
The companies will replant sugar cane in 71,500 hectares (176,680 acres) and plant the crop in 11,700 hectares of new fields, Rio de Janeiro-based Banco Nacional de Desenvolvimento Economico & Social said in an e-mail today.
Sao Martinho will receive 65.1 million reais to plant crops in Sao Paulo state and Usina de Acucar Santa Terezinha Ltda. will get 253.2 million reais to boost feedstock for two mills in Parana state, according to the statement.
Cia. Agricola Quata, a unit of Zilor Group, will get 37.9 million reais for work in Sao Paulo, BNDES said.