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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Raymond Duray who wrote (60841)	3/9/2005 5:31:47 PM
From: elmatador	Read Replies (1) of 74559

CVRD plans to invest R$ 40b up to 2010 ($1 = R$ 2.69). Brasília, 09 - Brazilian mining giant Companhia Vale do Rio Doce (CVRD) said on Wednesday afternoon that its investment portfolio up to 2010 totals R$ 40 billion ($1 = R$ 2.69). In order to meet growing global demand the company plans to increase iron ore production by 100 million tonnes by 2010, to 300 million tonnes. In 2004 iron ore production was 210 million tonnes and in 2003 it was 123.5 million tonnes. In 2005 investments are forecast at R$ 10.8 billion, the highest ever in the company's history. Of this total R$ 9.9 billion will be invested in Brazil and R$ 856 million abroad. In 2005 R$ 7.174 billion of total investments will be in new production, R$ 2.377 billion in research and R$ 1.211 billion in development. The remaining R$ 2.377 billion will be invested in the maintenance of existing projects, such as rail. aebrazil.com

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