São Paulo – The São Paulo State Investment Promotion and Competitiveness Agency (Investe São Paulo) announced this Thursday (1st), upon completing one year of existence, that it has attained positive results. According to a release issued by the organization, 2.7 billion Brazilian reals (US$ 1.5 billion) worth of investment have been guaranteed by four large companies.
“We are achieving our mission of being a gateway for foreigners to invest in São Paulo,” said the president of Investe SP, Mario Mugnaini Jr., according to the release.
Besides, the agency is managing 32 projects by domestic and foreign companies interested in establishing themselves in the state. According to him, these projects may generate investment of 5.8 billion reals (US$ 3.2 billion) and 22,500 direct jobs.
Companies that announced investments in São Paulo include the Japanese Toyota, which will have a factory in Sorocaba, in the interior of the state. The company will allocate roughly 1 billion reals (US$ 555 million) to the enterprise, and should generate 2,500 jobs. The unit will produce 150,000 vehicles per year.
The Korean Hyundai is also going to invest around 1 billion reals in a plant whose output should be 150,000 autos per year. The plant should start operating in 2012, in Piracicaba, and generate 1,600 jobs.
Cebrace, a large producer of glass and mirrors, will expand its plant in the city of Jacareí with an investment of 380 million reals (US$ 211 million). The new unit, which makes flat glass, will have a production capacity of 900 tonnes per day.
The last of the four investments that Investe SP attracted should be made by Sany, a Chinese construction machinery and equipment company, which intends to invest 360 million reals (US$ 200 million). The Chinese groups is expecting to generate 1,000 jobs, in addition to earning US$ 500 million in five years by supplying products to the Brazilian and Latin American markets. The company has not announced the location of the enterprise yet.
Regarding other initiatives, Investe SP informed that the main investment projects being negotiated are in the following industries: aeronautical, food, auto, capital goods, electric and electronic, naval and oil and gas. The potential investors are based in Germany, Canada, China, South Korea, Spain, the United States and France.
*Translated by Gabriel Pomerancblum
