January 13, 2009
Brazil's Minerva SA secures funding for expansion
Brazilian meatpacker Minerva SA announced it has obtained a funding of BRL215 million (US$92.8 million) from banks for its expansion plans.
Of the total, Minerva obtained BRL122 million (US$52.6 million) from the Brazilian Development Bank (BNDES) to modernise and expand the company's production units.
The rest of the funding came from Banco da Amazonia, of which BRL39 million (US$16.8 million) will be used to modernise and expand the Araguaina unit in Tocantins state and another BRL54 million (US$23.3 million) for the Rolim de Moura unit in Rondonia state.
