• Categories
  • Archives

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


  • 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Your email address will not be published.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.


You May Also Like

Brazil Expecting 3.5% GDP Growth for 2005

The latest weekly survey of market expectations by the Central Bank (the Focus survey) ...

If Varig Goes Belly Up Too Bad, Life Goes On, Says Brazilian Government

Brazil’s embattled airline Varig announced a restructuring of domestic and international routes in a ...

Castroneves’s Thrill Is Back

It seems appropriate that Brazilian racecar driver Hélio Castroneves, whose exuberant fence climbing after ...

Three Decades of Brazil’s Rita Lee

Rita Lee has been around for more than 30 years. Her first appearance was ...

Ali Baba and His Forty Thieves Are Alive and Well in Brazil These Days

Though officially Brazil abides by the Gregorian calendar, New Year kicks in for most ...

Au Revoir, Dictionary-Man

Bibliography: By Alessandra Dalevi With characteristic humility Antônio Houaiss used to call himself "a ...

New Braskem: a Brazilian Petrochemical Giant Is Born

Petrobras and Odebrecht, two Brazilian companies announced the purchase of Unipar’s share of the ...

Open Letter to President Lula

You will not be able to accuse or avoid responsibility. Who are you going ...

In Competitiveness, US Comes First and Brazil Is Almost Last in Line

The Competitiveness Indicator, a study conducted by Brazil’s Federation of Industries of the State ...

Brazilians Step Up Actions Against Smoking

On World Tobacco-Free Day, commemorated today, Brazil’s Minister of Health, Humberto Costa, handed the ...