SG Biofuels seeks $31 million loan for Guatemala

SG Biofuels, the renewable fuel company working with Airbus SAS, may receive $30 million in financing from the Inter-American Development Bank for jatropha plantations in Guatemala.

SG Biofuels will use the funds to plant 25,000 acres of the energy crop on low-quality land unsuitable for food production, the San Diego-based company said.

The Inter-American Development Bank is evaluating the $76 million project and may approve the loan and help arrange additional debt with other lenders.

Source: Bloomberg