DEG gives credit to Frigorífico Canelones
Uruguay's leading beef exporter can count on USD 6 million
DEG (DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH) is providing a long-term loan of USD 6 million to finance investments and pre-export financing for Frigorífico Canelones, one of Uruguay's leading beef exporters. Frigorífico Canelones is investing a total of approximately USD 2 million in the expansion of its chilling and slaughtering facilities and new production lines to respond to the growing global demand for high-quality beef products. At the same time, operating costs are to be reduced and the environment protected. The environmental investments flow, among other things, into a modern wastewater treatment process and into the conversion of the energy supply to natural gas.In addition, new jobs will be created as part of the expansion. Frigorífico Canelones is currently the largest employer in the city of Canelones, which has 25.000 inhabitants. The number of employees will increase by around 80 to around 830 employees.