The proposed project includes an IFC investment of up to US$180 million A/B/MCPP Loan package. The financing will support its three-year Amaggi cotton investment plan comprising : (i) conversion of existing corn farmland into cotton production across three farms in Mato Grosso; (ii) construction of cotton processing units to serve the increased cotton production volumes and financing of the three operating cotton production facilities; (iii) investments in logistics assets for the cotton expansion and agricultural inputs for use in the cotton farms; and (iv) crop protection/treatment inputs for productivity improvements in existing cotton farms (“The Project”).

Specifically, the proposed project will: (i) expand the existing cotton plantation area from 65,000 ha to 103,000 ha distributed among the Itamarati (69%), Tucunaré (26%) and Agua Quente (5%) farms by further replacing corn, which is currently planted as a second crop, by cotton. Thus, as part of this expansion, the company is improving soil conditions, acquiring specific equipment for cotton planting and harvesting (i. e., trucks, sprayers, medium tractors, forklifts, etc.), and improving structures for cotton processing; and (ii) construct a new 147,600 bales/yr cotton processing plant, Algodoeira Itamarati, in a 9,600 m² area within Amaggi’s Itamarati farm. This plant anticipates producing approximately (a) 32,000 tons/year of cotton plumes, (b) 40,000 tons/year of cottonseed, and (c) 800 tons/year of fibrilha.

The 85,315 ha Itamarati farm is in Campo Novo do Parecis, MT, its closest communities are the municipalities of Tangará da Serra (60 km) and Campo Novo do Parecis (73 km) and separated by the river Utiaritiit. It is also located 22km North-West distant from the Indigenous People (IP) Land Paresi and 14km distance South-West from IP Land and Protected area Rio Formoso. The 44,583 ha Tucunare farm is located in the municipality of Sapezal, its closest community is the city of Sapezal at 12 km and it is also located 56km West distant from the Utiariti IP Land, 48km South distant from the Pareci IP Land, and 58km West distant from the Nambiquara IP land. The 87,067 ha Tanguro farm, located in the rural area of the municipality of Querência/MT, its closest community is the city of Querencia at 33 km and is also distant 28km North-West from Xingu IP land and 42 km West from Pequizal do Naruvôtu IP land.  The 20,474 ha Agua Quente farm is in the municipality of Sapezal, its closest community is the city of Sapezal at 30 km; it is also distant 22km East from the Utiariti IP land and 17km South from the Pareci IP Land.                                                  

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