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BNDES approved R$625 million (53% of the R$1.18 billion project) for a second processing line annexed to São Martinho's existing Boa Vista corn-ethanol complex in Quirinópolis, Goiás — R$500 million from Fundo Clima (the federal climate fund, concessional rate) and R$125 million from the standard BNDES Finem line. FINEP is layering in a further R$102.8 million specifically for the project's innovation content: Industry 4.0 instrumentation for the industrial process and a first-in-Brazil technology to recover oil from vinasse (the stillage byproduct of ethanol distillation). Together the two federal financiers cover ~62% of project cost; São Martinho supplies the remaining R$452.2 million. BNDES states 34.1% of the project's capex goes to domestically-manufactured machinery — the same local-content framing GTA flags across this Brazilian agro-processing loan series (Inpasa, Neomille/CerradinhoBio). The new line adds 635,000 t/yr of corn-milling capacity and 270,000 m³/yr of ethanol (flexible anidro/hidratado mix), plus ~13,000 t/yr of corn oil and ~170,000 t/yr of DDGS as co-products, targeted for start-up in the second half of 2027.
Severity is set at 2, consistent with the Inpasa Bahia loan (also severity 2, ~USD 176m) given comparable absolute scale (R$727.8m public financing, ~USD 135m at prevailing FX) and that this is a capacity expansion rather than a greenfield plant.
this register in 2025-26 (see 2026-01-12-brazil-bndes-inpasa-corn-ethanol-bahia-loan and 2025-10-27-brazil-bndes-neomille-corn-ethanol-expansion-loan), all using the same Fundo Clima + Finem blended structure with local-content conditionality — the aggregate build-out of Brazil's corn-ethanol/DDGS export capacity is the thing worth tracking, not any single loan (see western-industrial-policy-stack theme).
exporters into Southeast Asian and EU animal-feed markets.
instrumentation signals a policy push toward higher-value-add, technology-intensive corn-ethanol processing, not just raw capacity.
disclosed in the public press release.
CMS re-slugging or a broader site restructuring worth rechecking on a later pass (other BNDES articles in this register show the same pattern — see the Lightera/Funttel filing).