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With Auction of São Fernando Plant, Located in Dourados, Mato Grosso do Sul, Millenium Holding Bioenergia Acquires the Project and Will Make Investments
Last Monday, Millenium Holding Bioenergia was declared the winner of the auction for the São Fernando plant, located in the city of Dourados, state of Mato Grosso do Sul. The company will pay R$ 351.6 million within 180 days following the court decision. The plant, which has been in judicial recovery and subsequent bankruptcy since 2013, will receive investments of around R$ 1 billion over two years to become a flex unit with the production of sugar and ethanol, from both sugarcane and corn. See also: R$ 400 million in investments is expected in a new ethanol and energy plant in Bahia. 8,000 job openings may be generated on-site
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Acquisition of the São Fernando Plant in Mato Grosso do Sul
The plant, which will be renamed Millenium São Fernando Total Flex, was sold by the decision of the judge of the 5th Civil Court to Millenium Holding, the winning bidder for the acquisition of the former São Fernando Plant. Eduardo Lima, CEO of Millenium Holding, states that the next steps for the plant, in the state of Mato Grosso do Sul, are focused on assessing all the needs of the plant and the sugarcane field, so that they can implement the strategic plan.
Lima says the plan consists of Industry Reform (1 year) and Sugarcane Recomposition (5 to 7 years), a continuous action to immediately start the corn ethanol plant project, to process 500,000 tons per year of corn (1st phase) and to produce 600,000 liters per day of ethanol + DDGs + Food Grade Carbon Dioxide + Bio-oil + Energy.
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The CEO of Millenium Holding further states that the corn plant will start with a 250 tons/hour boiler, which is not currently in use, only after the 4th or 5th year, and that the installation of a third boiler will be necessary.
Payment for the Project That Will Produce Corn and Sugarcane Ethanol
Eduardo Lima states that the effective possession of the São Fernando Plant in Mato Grosso do Sul will occur as soon as the group makes the payment. He emphasizes that according to Millenium’s proposal and the judge’s decision, the company will have up to 180 days to make the payment; however, the goal is to complete the payment in half the time.
Since the beginning of the week, two specialists from Millenium have been at the plant in Mato Grosso do Sul, meeting with the RJ manager and the company’s upper management. Lima highlights that the specialists are conducting all kinds of assessments regarding the conditions of the existing sugarcane and what resources will be needed to process the existing sugarcane.
Expansion of the São Fernando Plant in Dourados, Mato Grosso do Sul
The São Fernando Plant is ready to produce sugar and ethanol, requiring only a few maintenance investments to start the 2021/22 harvest. Eduardo states that the actual capacity of the plant is 4.5 million tons per year, but its master plan foresees expansions of up to 9 million tons per year.
For the CEO of Millenium, agricultural partnership is one of the most valuable assets a plant can have. He states that they will work hard to regain the old and good partners the unit had, but they will not give up on planting part of their own sugarcane.
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