The proposed investment is a US$150 million A Loan to Votorantim Cimentos S.A. (“Votorantim Cimentos” “VC” “Parent Company” or the “Company”), one of the largest Brazilian producers of cement and the subsidiaries of Votorantim S.A. (the “Holding”). The proposed loan consists of CAPEX for enhancing the cement co-processing capacity of Salto’s Plant (SP), in Sao Paulo State by upgrade of kiln W4 and construction of new residue derived fuel (RDF) facility for refining solid non-hazardous and hazardous waste with the install capacity of 120,000 tons/year. Currently, the Salto Plant substitutes fossil fuels with approximately 34% of alternative fuels (using biomass - wood chips, used tires, residue derived fuel (RDF) and hazardous RDF (HRDF)). After the upgrade RDF, HRDF and tires will be used. The project aims to approximately double use of alternative waste fuels after the upgrade of Kiln W4. The upgrade of the kiln W4 will include increased calciner residence time, new raw mill conversion of electro filters to bag filters and application of Selective Non-Catalytic Reduction (SNCR) which will be used to control NOx air emissions. The Salto Plant is located in the municipality of Salto de Pirapora on road João Guimarães SP 104 km 4.5 in a rural area of Sao Paulo State. The plant has been in operation since 1977 and produces cement, aggregates and agricultural lime. The total site comprises 242 km2 and includes two limestone quarries, Ponte Alta (and Salto. The site is separated by the road. Limestone is transported by a closed conveyor belt from the Ponte Alta quarry crossing the road by overhead and with trucks on internal roads from the Salto quarry. The nearest town is Piraporinha, 3.2 km to the south and a small community Alta Vista, 1.5 km to the west.
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