Brazil's Granol to invest BRL44.5 million to extend soy crush plant

Brazilian grain company Granol is investing 44.5 million Brazilian reals (US$19.3 million) to hike its soy crushing capacity and production of biodiesel, Granol's press officer confirmed on Tuesday (January 27).

Granol, with sales of BRL1.8 billion in 2008, already has the capacity to crush 1,200 tonnes of soy per day at its plant in Rio Grande do Sul state, press officer Barbara Odoki said. The company intends to hike this to 2,000 tonnes per day in 2009, Odoki added.

Granol is currently starting the expansion and plans to finish it this year, local newspaper Gazeta Mercantil reported Claudio Tonol, Granol's manager for new business, as saying.

The production of biodiesel will also be hiked to 140,000 cubic metres squared per year compared to 120,000 cubic metres squared currently, Odoki said.

Brazil is the world's No.2 producer and exporter of soy after the US.