February 3/Sao Paulo, Brazil/AE Brazil Newswire -- Agribusiness giant Cargill will invest R$350 million ($210 million) to build a new corn processing plant in Brazil. The unit will produce starches and sweeteners solutions, according to Brazilian daily O Estado de S. Paulo.

The plant, scheduled to come on stream in 2013, will boost Cargill's corn crushing capacity in South America by 30%, O Estado said. Cargill is expected to announce a decision on location later in the first quarter. This is Cargill's second investment in corn processing in slightly more than two years. In March 2010, the company completed investments of R$ 197 million at its Uberlândia (Minas Gerais) plant, boosting its capacity to produce starches and sweeteners by 70%.

From the February 7, 2011, Prepared Foods E-dition