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Abiquim plans $9bn investment in Rio

Date added: 13th January, 2010 at 08:44
(view all articles from January, 2010)

Categories: Economy, Rio

An investment in Rio de Janeiro state by Brazil's industrial chemicals production industry is set to bring new money and jobs to the region.

The Latin American country's national association of chemical companies - Abiquim - revealed in a statement that it will spend a total of $26 billion (£16 billion) over the next four years on a variety of projects.

Of these, the largest single development will be a $9.17 billion investment in Rio de Janeiro state, which will see publicly-owned energy giant Petrobras construct a petrochemicals plant in the area.

In total, Abiquim said its series of projects will directly generate 5,800 new jobs between now and 2014.

Investment in Brazil from the chemical sector could amount to $132 billion over the next ten years, the association added.

The organisation's financial figures show that exports of chemical products from Brazil reached a record $11.9 billion in 2008, an increase of 11.3 per cent on the previous year.ADNFCR-1477-ID-19554096-ADNFCR

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