July 15, 2008
Brazil's Grupo Algar to invest US$188 million in soy expansion
Grupo Algar plans to invest 300 million Brazilian reals (US$188 million) in soy storage and processing facilities in the northeast of Brazil, reported local news service Estado on Monday (July 14, 2008).
Grupo Algar expects to build a soy oil refinery and storage facility in Brazil's northeastern state of Maranhao by 2012, said Estado.
The group also intends to expand its soy processing facility to 2,500 litres per day from its current level of 1,500 litres per day, the news service reported.
Grupo Algar, whose net sales hit BRL1.9 billion (US$1.2 billion ) in 2007, owns a wide range of companies in the agricultural, telecom, tourism and service sectors.