Business Services Industry
CVRD to invest US$1.8bil in 2003.
South American Business Information, February, 2004
Brazil, Jan 29, 2004 (Valor Economico /SABI via COMTEX)
The Brazilian mining company CVRD (Companhia Vale do Rio Doce) has announced an investment plan of US$1.815bil for this year. The resources will be targeted at production expansion - nearly US$1.2bil, mainly in iron ore - and at current activities. The company also aims to show to the board a proposal for the payment of minimum dividends to the shareholders this year, an amount of US$550mil. According to CVRD, there will be invested US$1.14bil in new projects and in the expansion of the current operations. Iron ore, bauxite, alumina and potassium (raw material for fertilizers), the copper mine Sossego - to start up by June - electric power generation and logistics- with the acquisition of 3,178 wagons and...
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