News24/05/2012 - 14h40
GE to Invest $245 Million in Brazil Research Center
General Electric Co. (GE), the biggest maker of power-generation equipment, plans to invest 500 million reais ($245 million) through 2018 in a Brazilian research center to develop energy and transportation infrastructure technologies.
The Rio de Janeiro center will go into operation in the second half of next year, Fairfield, Connecticut-based GE said today in an e-mailed statement.
Brazil's infrastructure must be upgraded to keep up with its expanding economy, Reinaldo Garcia, president of GE's Latin America unit, said in the statement. The center will develop diagnostic systems for electric power, tools to optimize transportation and ways to process sugar-cane byproducts into fuel.
"The country is going through a unique moment of growth and has specific needs for infrastructure," Garcia said. The center will develop systems "specifically tailored to Brazilian demand."
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