July 11, 2008

 

Cargill to expand Brazilian corn processing plant

  
 

Agricultural giant Cargill Inc. intends to invest 112 million Brazilian reals (US$70 million) to expand its corn processing plant in Brazil's Minas Gerais state, the Estado news service reported Thursday (July 10, 2008).

 

Cargill will boost the capacity of the plant in the city of Uberlandia by 70 percent, according to Estado.

 

The company will pump BRL53 million (US$32.96 million) into the expansion project, and the rest will come from the Development Bank of Minas Gerais.

 

Corn planting is on the rise in Brazil and the country is expecting a record-breaking crop this year. .

 

Corn is Brazil's second-most-important crop after soy.
   

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