SÃO MARTINHO WILL INVEST R$1.1 BILLION TO DOUBLE ITS CORN ETHANOL PLANT

São Martinho approved a R$1.1 billion investment to more than double corn processing at its Quirinópolis (GO) plant, adjacent to the Boa Vista sugarcane mill, boosting annual corn ethanol capacity from 215 to 485 million liters. The project, supported by R$728 million in long-term financing from BNDES and Finep, will be implemented over three harvests and is expected to start operating in 2027. Using sugarcane bagasse for cogeneration will save R$120 million annually and give the plant a competitive carbon footprint. The expansion also adds capacity for 170,000 tons of DDGS and 13,000 tons of corn oil per year. Corn operations already contribute significantly to earnings—R$265.8 million in Q1 revenue and R$95.5 million in EBITDA—despite a 40.2% drop in net income due to lower sugar prices. The company sees the move as diversification into “new markets” and resilience against commodity cycles.
Source: Nova Cana