2 Projects In Brazil Will Receive R$ 1 Billion: Fertilizer Giant Will Heavily Invest In Bahia And Aims To Produce 1.3 Million Tons Of The Product Per Year

Written by Roberta Souza

Published on 19/10/2024 at 10:25

Updated on 19/10/2024 at 10:26

Foto: Reprodução Portal do Agronegócio

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Investment in Fertilizers Promises to Increase Production Capacity and Meet the Growing Demand of Brazilian Agribusiness

Galvani, one of the leading fertilizer companies in Brazil, plans to invest R$ 1 billion in two projects in Bahia. With this investment, the company aims to increase its production capacity of phosphate fertilizers from 700 thousand tons per year to 1.3 million. Marcelo Silvestre, president of Galvani, announced the news during the Invest Mining Summit 2024, held in São Paulo, according to the site.

Expansion in Luís Eduardo Magalhães and Irecê

The investments will focus on the fertilizer plant in Luís Eduardo Magalhães and a new mining unit in Irecê, in partnership with the Bahia Geological Survey (CBPM). Therefore, Galvani expects to double its production capacity by the first half of 2025. This expansion aligns with the growing demand for fertilizers in Brazil.

Silvestre also highlighted that Galvani secured a loan from Finep to finance the new unit in Irecê. In addition, this project stands out for being innovative, as it employs a dry concentration process and eliminates the need for tailings dams. The plant in Irecê will produce phosphate concentrate for the fertilizers in Luís Eduardo Magalhães. As a result, a co-product will be generated and sold as an agricultural corrective.

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Technology Center and Future Projects

Galvani has a fertilizer technology center in Uberaba (MG). This center develops new processes and products, which has been essential for investment plans. The Irecê project is already fully structured and implementation is expected to occur in 2026.

Furthermore, Galvani plans a Greenfield project in Santa Quitéria, Ceará. This project, in partnership with INB, has an estimated cost of R$ 2.5 billion. It will include a mine and a fertilizer plant. The expected production will be 99.8% phosphate and 0.2% uranium, destined for INB. Silvestre emphasized that this project is linked to energy transition and food security.

Strategic Importance for Agribusiness

Galvani stands out as a leader in the supply of phosphate fertilizers in the Matopiba region. Consequently, the company generated about R$ 1.3 billion annually, operating with a capacity of 700 thousand tons per year and employing 1,300 people.

Silvestre emphasized the importance of the new projects. For instance, 24% of Brazil’s GDP is related to agribusiness, and 40% of exports in 2023 derived from this sector. Additionally, Brazil imports around US$ 15 billion in fertilizers, representing 87% of national consumption. Thus, Brazil compares to other major agricultural producers, such as the USA and China, which have over 50% of their own production. Brazil, on the other hand, has only 13%.

2 Projects In Brazil Will Receive R$ 1 Billion: Fertilizer Giant Will Heavily Invest In Bahia And Aims To Produce 1.3 Million Tons Of The Product Per Year

Investment in Fertilizers Promises to Increase Production Capacity and Meet the Growing Demand of Brazilian Agribusiness

Expansion in Luís Eduardo Magalhães and Irecê

Technology Center and Future Projects

Strategic Importance for Agribusiness

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2 Projects In Brazil Will Receive R$ 1 Billion: Fertilizer Giant Will Heavily Invest In Bahia And Aims To Produce 1.3 Million Tons Of The Product Per Year

Investment in Fertilizers Promises to Increase Production Capacity and Meet the Growing Demand of Brazilian Agribusiness

Expansion in Luís Eduardo Magalhães and Irecê

Technology Center and Future Projects

Strategic Importance for Agribusiness

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