Brazil’s Cibrafértil Group, Salvador, Bahai, plans to spend R$430 million in 2022 to expand fertilizer production, according to a report in Estadao, citing company CEO Santiago Franco.
Most of the funding – R$360 million – would go to two new plants, which would start up in first-quarter 2023. One new plant is reportedly being built in Sinop, Mato Grosso, while the location of the second has not been revealed pending environmental licensing.
The remainder of the funding would go to upgrade the company’s Uberaba, Minas Gerais, plant, which the company bought in 2021 (GM Feb. 26, 2021) from Fertilizantes Heringer SA. The acquisition of that plant increased Cibrafértil’s Brazilian production capacity by 24 percent, according to a Nasdaq report, citing a company statement. The purchase was part of Cibrafértil’s plan to reach local production capacity of 2.5 million mt by 2025.