BNDES approves R$300 million for expansion of Neomille's corn ethanol plant in Goiás.

RIO DE JANEIRO (Reuters) – The Brazilian Development Bank (BNDES) has approved financing of R$300 million for the expansion of Neomille's corn ethanol plant in Chapadão do Céu (GO), according to a statement released by the bank on Monday.

In early October, Neomille, a subsidiary of Cerradinho Bioenergia, announced the completion of a R$500 million fundraising through Agribusiness Receivables Certificates (CRA), which would be used to purchase part of the corn for the expansion of the unit.

BNDES resources will support the increase in corn ethanol production capacity to up to 527,000 m3 per harvest; DDGS (dried solubles, used in animal feed) to up to 265,000 tons per harvest; and corn oil to up to 21,000 tons per harvest.

“This project is aligned with the objectives of the New Industry Brazil (NIB), the industrial policy of President Lula's government, as it helps to strengthen the country's biofuel supply chains and the energy transition to cleaner fuels,” said the president of BNDES, Aloizio Mercadante.

The Cerradinho Group produces ethanol, sugar, corn by-products (DDGS and corn oil), and electricity, using corn and sugarcane as raw materials.

(By Rodrigo Viga Gaier)