May 11, 2007

Brazil's Sementes Selecta to build soy processing plant

Brazilian soy producer Sementes Selecta will pour 100 million Brazilian reais (US$49.5 million/36.6 million euro) to construct a soy processing plant in Araguari, in the southeastern Minas Gerais state.

The plant--which will start construction this year--will produce soy oil, soy bran and lecithin. It will have an annual capacity to produce some 600,000 tonnes of soy-derived products once it becomes fully operational.

The plant is seen to generate revenue of 200 million reais (US$99 million/73.2 million euro) in its first year of operation and is projected double to 400 million reais (US$198 million/146.5 million euro) once it becomes full blast.

The unit's construction is seen to create some 2,200 direct and indirect jobs in the region.