Brazil: Vale announces investment of 33 billion reais in Para State

15 August 2008

Barcarena, Brazil, Aug 15 – Brazilian mining company Vale on Thursday inaugurated the world’s biggest aluminum smelter in the Amazonian state of Para and also announced fresh investment of 33 billion reais in the region.

Vale’s projects in Para are part of total investments of 59 billion reais announced at the start of the year, of which 45 billion reais will be spent in Brazil.

Of the 33 billion reais being invested in Para, 8 billion will be used to create a metalwork center and an industrial production base. The remaining 25 billion reais will be invested by 2012.

Vale made public its latest investments during the inauguration of new production lines at the Alunorte factory in Barcarena, 190 kilometers from Belem, capital of Para State.

Besides these investments, Vale will continue to invest in iron ore mining projects, in addition to infrastructures and energy generating ventures. (macauhub)