Votorantim to invest US$258mn BNDES loan in expansion, modernisation

Votorantim to invest US$258mn BNDES loan in expansion, modernisation
Published: 18 November 2008

Brazilian cement maker Votorantim Cimentos received approval from shareholders to take out a 600mn-real (US$258mn) credit line with national development bank BNDES, Valor Online reported. The loan will be used to expand and modernize the firm’s fixed assets. Part of the resources will also be destined to the purchase of new equipment, and to studies and engineering projects related to the expansion projects, the report said.

At the same time, the company intends to invest in quality and productivity projects, research and development, technical and management training, as well as technology actualisation.