Brazil BNDES Approves financing to Polimix

Brazil BNDES Approves financing to Polimix
Published: 30 September 2005

Brazilian National Social and Economic Development Bank (BNDES) approved financing of 75.4 mln Brazilian reais ($33.84m) to the local concrete producer Polimix Concreto Ltda.  The funds will be earmarked for the construction of a cement producing plant in Rio Branco do Sul, in the southern Parana state. The plant will produce 900,000t of cement per year and it will start operations in 2007. The company decided to build the plant with the aim to reduce costs related to the purchase of cement.  The development bank’s credit will account for 45.8 pct of Polimix’ total investments. The plant will generate 600 jobs in the poor Rio Branco do Sul region.