The International Financial Corporation (IFC) will invest 150 million dollars in Votorantim Cimentos, a leading Brazilian cement producing company, for fostering the use of alternative fuels, and therefore support the low-carbon transition in the cement industry in the country.

IFC’s investment, structured as a sustainability-linked loan, will help Votorantim Cimentos’ Salto de Pirapora plant to double its capacity to use alternative fuels by processing a range of solid waste materials, such as biomass, wood chips, used tires and refuse-derived fuel (RDF).

In addition, IFC will work with Votorantim Cimentos to help the company with its sourcing strategy of alternative fuels, contributing to its go-to-market strategy for each co-processing plant, and will assist the company in aligning its emission reduction targets with the Paris Agreement.