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Guatemalan sugar mills double their demand for credits to boost investment

Tuesday, July 19, 2011


Demand for credit has risen sharply in recent months among sugar mills in Guatemala. They need the money for sugar and ethanol production as well as conversions for power plants.

Between December 2010 and April of this year, credits to the industry have risen by 31.3 percent.

Banco Industrial has the largest debt portfolio of the sugar sector  but the Magdalena sugar mill recently contracted Bancolombia for a $240 million syndicated loan.

Original source (in Spanish): El Periódico