October 28, 2022 |
Uruguay's government has authorized state-owned ethanol producer Alur to take out the equivalent of $50 million in a credit line to finance a two-year program to make biodiesel from canola oil, El Observador newspaper reported on Thursday.
Alur, a unit of the state energy company Ancap, will seek the two-year credit line from local banks, the paper reported. The company will borrow the funds in Uruguayan pesos or unidades indexadas, a unit known as UI that fluctuates with inflation.
Uruguayan ethanol producer gets the nod from the government to take out a $50 mln credit line