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January 31, 2008 |
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BANCO NACIONAL: Grants BRL95.2-Mln Loan to Companhia Brasileira Banco Nacional de Desenvolvimento Economico e Social has approved a BRL95.2-million financing for the expansion and modernization project of the productive units of Companhia Brasileira de Estireno S.A., in Cubatao. BNDES's financing corresponds to 59% of the total investment amounting to BRL161.6 million. The project aims at the increase of the ethylbenzene plant's production capacity, from 122 thousand tons annually to 195 thousand tons/year, and the increase of the industrial plant of styrene monomer, from the current 120 thousand tons/year to 180 thousand tons annually. In addition, social and environmental investments amounting to BRL1.1 million will be carried out, with the implementation of systems to monitor gas emissions in the atmosphere and to monitor effluents. Among the merits of the project, the following is highlighted: * increase in the national production of styrene, reducing the level of imports; * reduction in the costs of production; * increase in the energetic efficiency; and * expansion of the productive capacity, reducing the generation of residues without increasing the atmospheric emission. The Brazilian production of styrene is lower than the demand, and a consumption growth, which is higher than 4.5% per year, is expected for the market for the next ten years. The styrene monomer, or styrene, is a product from the family of colorless, liquid, aromatic and hydrocarbonates, which are used in the manufacture of polystyrene, synthetic rubber, styrene emulsions, polyester, styrenized oils, sulphonated resins and other chemical derivatives. Its wide range of applications is included in the production of plastic articles, toys, pneumatic products, waterproof coatings, thermal insulators, water-based inks, varnishes, glue, among others. In order to manufacture styrene; first, it is necessary to obtain ethylbenzene in its manufacturing process. Ethylbenzene, on its turn, has the ethene and benzene as the raw materials. CBE is part of Unigel group, a national controlled conglomerate which operates in the areas of chemistry, plastics and packages, playing an important role in the Petrochemical Complex of Camacari, in Bahia. About Banco Nacional Banco Nacional de Desenvolvimento Economico e Social is Brazil's national development bank. It provides financing for projects within Brazil and plays a major role in the privatization programs undertaken by the federal government. * * * Banco Nacional currently carries a Ba2 foreign long-term bank deposit rating from Moody's, and a BB+ long-term foreign issuer credit rating from Standards and Poor's. The ratings were assigned in August and May 2007, respectively. |
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