The BNDES approved R$ 114.5 million in financing for a cogeneration project for energy from sugarcane biomass. The resources will be transferred to Cogeração de Energia Elétrica Paraíso, a subsidiary of Rhodia Energy SAS, a company of the Solvay Group.

The BNDES registered a net profit of R$ 7.9 billion from January to September 2011. The result represents an increase of R$ 1.8 billion (29.5%) compared to the R$ 6.1 billion obtained in the same period in 2010.

The BNDES’ disbursements reached R$ 91.8 billion from January to September of this year. The figure is the result of an already expected moderation in the Bank’s performance. The bank had adjusted a few credit lines and reduced the average of its maximum level of participation in financing. This moderation is also in keeping with the behavior registered in general indicators of the Brazilian economy.

The BNDES approved a credit limit of R$ 2.46 billion for Braskem S.A. Funds are earmarked to support the investment plan of the petrochemical company in the states of Bahia, Alagoas, Rio de Janeiro and Rio Grande do Sul. The plan includes investments for the 2011-2013 period.