Singapore investors announce purchase Brazilian sugar plant

Olam International, a global leader in supply chain management of agricultural products and food ingredients, Singapore, today announced the acquisition of the mil Passos for $128.6 million. In the future, Olam intends to invest U.S. $ 115.5 million over five years to increase production and milling capacity, the company said in a statement to the stock exchange of Singapore.

The plant processes 1.75 million tons of sugar cane per year, with the contribution of the multinational milling could increase to 3 million tons.

Devashish Chaubey, chairman for the sugar industry of the company, explains that the Brazilian competitiveness cost –wise is one of the best in the world, an important factor for the implementation of the Company’s strategy of sugar.

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