1 Min Read
SAO PAULO, March 13 (Reuters) - French sugar producer Tereos SA plans to invest 60 million reais ($19 million) to expand cane crush and sugar production capacity at its Tanabi plant in Brazil, the firm said over the weekend when it opened a new sugar storage facility in the region.
Tereos, one of the largest players in the Brazilian sugar sector with seven mills, said the new warehouse in Tanabi, Sao Paulo state, is capable of storing 80,000 tonnes of VHP (very high polarization) sugar.
The company foresees an increase in its annual cane crush in Brazil to 22 million tonnes by the 2020/21 crop year from 20 million tonnes currently.
Tereos regained a 100 percent ownership over its Brazil-based mills late last year after buying a 45 percent stake it did not own in the ventures from state-controlled oil company Petrobras for $202 million.
Reporting by Marcelo Teixeira; Editing by Marguerita Choy