China BBCA Group provides USD 15,387.84 supplier's credit loan to Voraxxx Trade and Import of Industrialized Products Eireli

In January 2018, China BBCA Group Corporation Limited (or Anhui Fengyuan Group), a state-owned enterprise, provided a USD 15,387.84 supplier's credit loan to Voraxxx Trade and Import of Industrialized Products, a Brazil-based company. The loan's borrowing terms and purpose are unclear. The Central Bank of Brazil lists the loan registration (ID TA820208) as complete. According to the BBCA Group website, Fengyuan Brazil Industrial Investment Co., Ltd. is a holding subsidiary of Fengyuan Group in Brazil. It is building the largest corn deep-processing industrial base in South America in Maracaju, Mato Grosso do Sul, Brazil. The main products include organic acids, corn Starch, maltodextrin, maltose syrup, by-product corn gluten meal, corn gluten feed, and other products. Mato Grosso do Sul is an important corn and soybean production area with an annual output of 7 million tons of corn. It is unclear whether or how this related to the USD 15,387.84 supplier's credit loan to Voraxxx. In July 2019, a director from Brazil's Ministry of Agriculture visited BBCA Group officials are their project site in Maracaju, Mato Grosso do Sul. The director said they welcomed BBCA Group's investment in Brazil, and that the Southern State Government and the Federal Ministry of Agriculture will continue to provide various assistance and preferential treatment to BBCA Group Brazil.

Additional details

Borrower's Portuguese name: VORAXXX COMERCIO E IMPORTACAO DE PRODUTOS INDUSTRIALIZADOS EIRELI The Central Bank of Brazil characterized this transaction as "financiamento a importacao" or "import finance" instead of the more common "emprestimo" or "loan." Therefore, AidData assumes that this loan is actually export supplier's credits since it is coming from a Chinese company to a Brazilian company to finance imports.

Number of official sources

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Number of total sources

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