Portuguese businessman Américo Amorim announces investments in Brazil

17 September 2013

Portuguese businessman Américo Amorim plans to invest US$3.25 billion in Brazil by 2016, in the financial, oil and tourism real estate sectors, the businessman told Brazilian newspaper Valor Económico.

Another US$1.75 billion will be invested in Angola and Mozambique, he said.

Amorim is one of the world’s richest men according to US Forbes magazine and has businesses involving oil, livestock, wine and olive oil production, dominates the world’s cork production, which posted turnover of 534 million euros in 2012, and his own stake-holding company the Américo Amorim Group.

In the financial sector, Amorim has stakes in a number of banks, such as BIC and Banco Carregosa in Portugal, Banco Popular in Spain, Banco BIC in Angola, Banco Único in Mozambique and Banco Luso-Brasileiro, in Brazil.

Amorim also told the newspaper that Brazil was where Galp Energia, in which he is the biggest individual shareholder with 21.08 percent, had it largest reserves and expects to produce 300,000 barrels of oil per day in 2020.

Another Galp Energia project is gas exploration in Mozambique, which together with Angola is seen by Amorim as a rapidly expanding economy in Africa.

The Galp Energia group is Portugal’s biggest exporter, particularly of refined fuel, and is expected to increase its foreign sales to 6 billion euros in the next three years, compared to 4.5 billion euros at the moment. (macauhub)