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:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazil Might Soon Have a Female President But There Are Still Too Few Women in Politics

In the coming October 3 presidential election, two of the three frontrunners are women. ...

Brazil Sends Team to Help Rebuild Lebanon After Israeli Attacks

A cooperation mission to Lebanon, promoted by the Brazilian government, is going to leave ...

Brazilian Muscle Back at the Indy 500 Track

The first day of qualifications for 92nd running of the Indianapolis 500 failed to ...

Brazil Boosts Formal Domestic Work Allowing Tax Deduction

In comments about the provisional measure (Medida Provisória, MP) that establishes incentives for the ...

Brazilian Ecodesigner Brings Art Out of Wood Scrap and Damaged Trees

Pedro Petry, a Brazilian ecodesigner, is a pioneer in the research and use of ...

Brazil’s Machinery: The US$ 23 Bi Gorilla Faces Chinese Invasion

The machinery and equipment industry is one of the greatest sectors in the Brazilian ...

Guarani Indians children from Brazil

Brazilian Indians Don’t Want Handouts But Their Land Back to Grow Food

The situation of extreme poverty and no land to live as faced by the Guarani-Kaiowá ...

Plastic Money: Brazilians Own 471 Million Credit and Debit Cards

Brazilians purchased 31.7 billion Brazilian reais (US$ 19.6 billion) in credit cards in July. ...

Brazil Tourism and Real Estate Look Overseas for Big and Small Investors

Companies from Brazil are seeking investment abroad for tourist and real estate projects in ...

Comparing Discriminatory Policing and Social Action in Brazil and the US

The disproportionately harsh and violent treatment of African-Americans by law enforcement officials has been ...