Franklin Feder, the president of Alcoa for Latin America, announced that his company, one of the world’s largest aluminum producers, will invest US$ 1.6 billion in its Brazilian operations over the next three years.
The president of Brazil, Luiz Inácio Lula da Silva, was apprised of the amount of the investments at a meeting on Friday, September 23, in Brasília. According to Feder, Lula emphasized the importance of the new investments for reinforcing the growth of the Brazilian economy and creating jobs.
The investments will serve to expand the production of the Alumar Consortium’s aluminum oxide refinery in São Luis, Maranhão, by more than 2.1 million tons; to implant a bauxite mine in Juriti, Pará, with an initial annual production of 2.6 tons; and to modernize the aluminum plant in Poços de Caldas, Minas Gerais, the first Alcoa factory in Brazil, functioning since 1970.
These investments will generate 6,500 direct jobs and contribute US$ 400 million per year to the Brazilian trade balance.
The global president of Alcoa, Alain Belda, who also participated in the meeting, praised the current Brazilian administration’s macroeconomic management.
Alcoa is active in 43 countries. In Brazil it has seven operating units, which are responsible for approximately 6 thousand jobs.