Category: Business

Information regarding the business sector

CSN signs iron ore contract with Glencore for $115 mm

CSN announced an agreement for the supply of iron ore to trading Glencore, in the amount of $115 mm, resources that it will use to reduce indebtedness. The agreement involves the supply of 4 million tons of iron ore in up to 5 years. According to CSN, the amounts foreseen in the agreement may be expanded in the future, depending on the interest of the parties.

2W will raise $ 288mm and sell clean energy in Brazil

2W Energia will carry out an initial offer of actions to raise funds for the construction of wind and solar parks in the Northeast, aiming at selling the production to small and medium-sized customers in the so-called free market of energy. The operation could raise about R$ 1.5 billion ($ 288 mm) for the implementation of the first units.

Castlelake expects to invest up to $960 mm in renewable energy in Brazil

Castlelake resource manager has plans to invest between R$4 billion and R$5 billion ($769 and $960 mm) in renewable energy in Brazil in the next five years, after closing the acquisition of the Queiroz Galvão construction company’s generation unit in the country. The investments will be made through Ibitu Energia and the objective is to double the installed capacity in the next five years.

Enel Brasil invested $10.5 mm in social activities

Enel Brasil invested R$ 55 million ($10.5 mm) in projects and social initiatives in 2019, generating about R$9.5 million ($1.8 mm) in income for the communities where the company operates. The data outlines the financial and socio-environmental impacts and performance of Enel’s operations in the country, as well as the progress of the company’s goals with the Sustainable Development Goals of the 2030 UN Agenda.

Caixa reaches $1.1 bn limit for small businesses

Caixa has reached the approved limit for the support programme for micro and small companies, Pronampe. In contracts signed and proposals in the final phase of analysis are already R$ 5.9 billion ($ 1.1 bn), the limit authorised by the Operations Guarantee Fund (FGO). With other credit lines […]

Rural credit grows by 30% in Brazil

In the 2019/2020 harvest, rural credit in Brazil grew 30%, reaching R$ 225 billion ($ 43 bn), according to the Ministry of Agriculture. The resources are from the 2019/20 harvest plan, Agribusiness Credit Bills (LCAs), acquisitions of Rural Product Notes (CPRs) and operations with agribusiness.

Bankruptcies rose by 71.3% in Brazil

After four months of pandemic, companies are beginning to collapse to cash flow shortages and the financial inability to pay all their debts. Last month, the number of judicial recovery requests grew 44.6% and the number of bankruptcies decreed, 71.3% compared to the same period in 2019, according to a survey by Boa Vista SCPC.

Brazil reaches 6 GW in solar power capacity

Brazil has exceeded the mark of 6 GW of installed capacity in photovoltaic plants, a total investment estimated at R$ 31 billion ($ 6bn), announced Absolar in a statement. The total of investments planned up to 2025 for projects already contracted in energy auctions exceed R$ 25.8 billion ($ 4.9bn).