Brazil Development Bank OKs $104M Funding For Cargill Plant

Law360, New York (October 1, 2013, 3:36 PM EDT) -- The Brazilian Development Bank approved a financing package worth 239.3 million reals ($104.3 million) to cover most of the upfront investment in a corn-processing plant slated for southern state of Parana that will be operated by U.S.-based agriculture giant Cargill Inc., it said Monday.

The financing will cover about 56 percent of the total planned investment in the project, including the addition of a substation, transmission line and other infrastructure developments needed to bring the facility online, according to the bank, known as BNDES.

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