Alcoa Invests US$ 1.6 Billion in Brazil Creating 6,500 Jobs

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.


Agência Brasil

Tags:

You May Also Like

World Debates How to Make More Peace and Less Sex Tourism

The city of Porto Alegre, in the southernmost Brazilian state of Rio Grande do ...

Brazil Ranchers Kill and Wound Indians to Terrorize Them and Take Their Land

A group of gunmen has attacked a tribal community in southern Brazil, killing one ...

Taí­s Araújo is Xica da Silva in Brazilian soap opera

Xica, the Brazilian Slave Who Became Empress, Is Back on US TV

Ten years after becoming a hit in Brazilian TV, the novela (soap opera) Xica ...

Brazilian Stocks Drop 6.6%. Losses in 2008 Jump to 16%

Brazil is having an extreme case of bearishness. São Paulo stock exchange's main index, ...

Pope Benedict XVI goes to Brazil

Brazil Hoping Pope’s Visit Will Turn Into a US$ 30 Million Blessing

Pope Benedict XVI coming visit to Brazil from May 9 to 13 is expected ...

Bitter Defeat for Brazil’s Lula in Congress

For the first time in the recent history of the Brazilian Parliament, the Chamber ...

Town of Santa Tereza, Espírito Santo, Brazil

A Trip Back in Time to Meet Grandpa and His 21 Kids in Brazil

It was January of 2006 when my American husband and I traveled to Santa ...

UN Extends Mission in Haiti. Brazil Vows to Stay.

The UN Security Council has voted to extend its Stabilization Mission in Haiti (MINUSTAH), ...

Africans Want Brazil at Their Side for World Cup

Africans hope to count on Brazil’s support for the 2010 World Soccer Cup, which ...

Brazil’s PMDB Decides Not to Expel Party Members with Posts in Cabinet

The National Executive board of the PMDB approved a proposal last week to withdraw ...