MOSCOW (MRC) -- Unipar's board of directors (UNIP6) approved an additional investment in the project to implement a chlorine/soda and derivatives production plant at the Camacari Petrochemical Complex, in Bahia, said the company.
The increase will be around R$94 million. In a statement sent to the CVM (Securities Commission), Unipar says that the project will increase by 10 thousand tons of chlorine per year to the production capacity originally planned.
With the completion of the project, the total capacity of the plant will be 20 thousand tons of chlorine and 22 thousand tons of caustic soda. In June this year, the company announced an investment of R$ 140 million in the construction of a new factory in Bahia.
It is expected to start operating in the first half of 2024, with the aim of meeting the growing demand for hydrochloric acid, sodium hypochlorite and caustic soda in the local market, especially in the Northeast, driven by the new legal framework for sanitation.
The project in Bahia is the first "greenfield" within the company's geographic expansion strategy, whose last big leap was taken at the end of 2016, with the purchase of the PVC factories of the Solvay group (Indupa) in Brazil and Argentina. In August, the company's board approved the distribution of dividends for the first half of this year. The total amount was R$ 500 million, divided according to the three categories of shares issued by the company.
Shareholders holding common shares received a portion of R$163,524,565.53, equivalent to R$4.53103818657 per share. Holders of class "A" preferred shares received BRL 4.98414200522 per share, equivalent to BRL 11,091,221.17, while holders of class "B" preferred shares received BRL 4.98414200522 per share, totaling BRL 325,384,213.30.
Unipar also went through a corporate reorganization involving its main shareholder and CEO of the company, Frank Geyer Abubakir, and his two daughters, Maria Cecilia Barretto De Araujo Abubakir and Maria Carolina Barretto De Araujo Abubakir, who make up the corporate structure, who started to concentrate all of its stakes in Vila Velha, the holding company that controls the company.