Brazil’s CVRD to Invest US$ 400 Million in R&D

Company Vale do Rio Doce, Brazil's mining giant, announced last week a US$ 6.334 billion investment budget for 2007. According to CVRD, the budget includes the highest amount ever spent in organic growth in the history of the company.

The budget also includes investments on Inco, a Canadian mining company acquired by Vale do Rio Doce last year.

Total investments in 2006 were higher, at US$ 26 billion, but that was due to the purchases made by Vale. The company paid US$ 19 billion for Inco, US$ 2.4 billion for Caemi, US$ 47 million for Rio Verde Mineração, and US$ 27.5 million to own all shares of Valesul.

Purchases not included, US$ 4.5 million were effectively invested last year, that is, US$ 1.8 million less than the value forecasted for this year.

The company plans on spending US$ 1.698 billion to maintain its existing operations, US$ 4.230 billion in projects, and US$ 406 million in research and development.

The company will invest US$ 1.635 billion in flagship sector, which is iron minerals; US$ 811 million in the aluminum sector; US$ 720 million in logistics services; US$ 2.55 billion in non-iron minerals; US$ 209 million in coal, US$ 101 million in electric energy, US$ 114 million in the steel sector; and US$ 197 million in other sectors.

Tags:

Ads

You May Also Like

Brazil Getting Less Kick out of Soccer

While soccer in North America can boast of some successful signs of positive growth, ...

A Tribute to a Brazilian Writer Who Made Theater into a Weapon for the Oppressed

Brazilian playwright and educator Augusto Boal died in Brazil recently at age 78. Boal ...

Brazil Confident Its WTO Proposals Will Be Adopted by the G-20

By December the new proposals by the group of 20 developing countries (G-20) for ...

Bolivia’s Oil Nationalization Shows LatAm’s Pink Tide Gradation from Cuba to Brazil

Four days after President Evo Morales exploded with a resounding decree which nationalized Bolivia’s ...

New Goal for Brazil Is to Export US$ 150 Billion, Says Lula

During his trip to Uruguay, where he attended the inauguration of the new President, ...

A cane-sugar plantation in the Northeast of Brazil

Planting Sugarcane and Reaping Poverty and Eco-Degradation in Brazil

On January 22 the Lula administration announced it will increase federal funding for Brazil’s ...

In Brazil, Alcohol Is the Main Cause of Crime

National anti-drug policy is being debated in regional forums with various sectors of Brazil’s ...

Brazil to Join EU and US in Effort to Research Nuclear Fusion Energy

The European Atomic Energy Community (Euratom) and the Brazilian government, this past June 5th, ...

Reliving Brazil’s World Cup Excitement

In the midst of all the commotion, someone yelled "pentacampeão," which means five-time champion. ...

Another Push Far from Microsoft, in Brazil

Since Sunday, Brazilian government’s Radiobrás Internet services,  are using free source software. This is ...