Brazilian fertilizer producer Galvani to invest US$530mn
Brazilian fertilizer producer Galvani is planning to invest 2.54bn reais (US$531mn) through 2026 to expand its production and mining areas.
Of the total, 2bn reais will go to the mine and phosphate factory in Santa Quitéria, Ceará state, a spokesperson said in an email.
Meanwhile, 200mn reais will be for doubling capacity of the Luís Eduardo Magalhães industrial plant and 340mn reais for a new mining unit in Irecê, both in Bahia state.
The investments are part of efforts to reduce dependence on fertilizer imports, key for agricultural powerhouse Brazil.
Galvani normally produces 700,000t/y but seeks a 15% output increase this year.
Investments in mining projects associated with fertilizer production will reach US$5.22bn through 2027, the third-highest figure after iron ore and environmental initiatives, according to association Ibram, which projects US$50bn in overall sector investments.
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