Latest News
Forestry Investment News
GE plants $500 million investment in Brazil
10/11/2010
American conglomerate, General Electric (GE), has chosen Brazil as the location for its fifth key research and development centre, in a deal that will see the company invest $500 million in the nation.
The decision was made to locate the centre in Brazil as the company emphasizes its push on expanding its global operations - particularly in South America. Ferdinando Becalli-Falco, president of GE International, said Latin America's largest economy presented it with a number of financial benefits.
He said Brazil presented geographical advantages, tax breaks and chances for lucrative government contracts. The centre itself will likely cost $100 million and will be located on the Ilha do Bom Jesus peninsula. When fully operational, it will employ 200 researchers and engineers, which will work on advanced technologies for oil, gas, renewable energy, mining, rail and aviation industries.
"As we look ahead, we see an even brighter future that requires aggressive investment, which will result in more innovation coming to market," said Beccalli-Falco. "Brazil offers GE some of the most sophisticated and aggressive customers in the world. The Brazil Global Research Center will be a hub for deepening relationships that will result in growth for GE, its customers and the country."
The rest of the money will be ploughed into infrastructure development and research. This will include technology, training, new product development, new plant and equipment and human capital. $200 million is being earmarked for new aeroderivative product developments and new wind turbine building.
The decision was made to locate the centre in Brazil as the company emphasizes its push on expanding its global operations - particularly in South America. Ferdinando Becalli-Falco, president of GE International, said Latin America's largest economy presented it with a number of financial benefits.
He said Brazil presented geographical advantages, tax breaks and chances for lucrative government contracts. The centre itself will likely cost $100 million and will be located on the Ilha do Bom Jesus peninsula. When fully operational, it will employ 200 researchers and engineers, which will work on advanced technologies for oil, gas, renewable energy, mining, rail and aviation industries.
"As we look ahead, we see an even brighter future that requires aggressive investment, which will result in more innovation coming to market," said Beccalli-Falco. "Brazil offers GE some of the most sophisticated and aggressive customers in the world. The Brazil Global Research Center will be a hub for deepening relationships that will result in growth for GE, its customers and the country."
The rest of the money will be ploughed into infrastructure development and research. This will include technology, training, new product development, new plant and equipment and human capital. $200 million is being earmarked for new aeroderivative product developments and new wind turbine building.
RSS