CEMA foundation says use of alternative fuels will ensure long term viability of the industry.
Four of the company's plants secure first batch of environmental certifications from the government.
Three plants to use wood chips, biomass.
Residents near the Lafarge plant had earlier complained of dust emissions from the plant.
Company taps Fundação Proamb de Bento Gonçalves for the project.
Plan is to use waste fuel to power furnaces, kilns in heavy industries like cement.
Fund expected to raise $300 mm through a public order of certificates.
Südbayerische Portlandzementwerk says move will cut a third of its external power requirements.
Authorities have given go ahead for incineration of 200,000 tons of waste per year for Cementos Portland.
Lawsuit has been filed against the plant, saying emissions are harmful to people's health.
Protesters want incineration at Toral delos Valdos stopped.
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