Paul and thread,
Not sure if the following has been posted:
____
Costa Rica sees rapid growth at Intel plant
SAN JOSE, Dec 12 (Reuters) - Leading computer chip maker Intel Corp INTC.O will become the leading exporter in Costa by 2000, two years after it opens a plant in this Central American country, officials said on Friday.
"Intel will export $300 million its its first year of operations (1998), $600 million its second year and reach up to $1.2 billion in the year 2000," Jose Manuel Salazar, the minister for foreign trade, told Reuters.
Intel would surpass Del Monte Fresh Fruit, which sells mostly bananas and pineapples, as the top exporting firm in Costa Rica, he said. Del Monte's 1997 exports are seen at $600 million, the minister said.
The microchip plant is the first for Intel in Latin America
and considered a crown jewel for Costa Rica, which is aggressively seeking high-tech industries as an alternative to its more traditional revenue earners like tourism, coffee and other agricultural products.
"We want to convert Costa Rica into a society of information services," Salazar said. Construction began in April on the 40,000 square meter plant just outside the capital San Jose. It is expected to cost between $300 million and $500 million, depending on future
expansions. Costa Rica has set a goal of $8 billion in annual exports
by 2000 and $12 billion by 2005, up from the $4.8 billion expected for 1997, Salazar told a meeting of exporters.
He spoke to Reuters after the meeting.
In 1994, Costa Rica had set a goal of $5 billion in exports by 2000, but those prospects changed dramatically with the arrival of Intel, he said.
REUTERS
Rtr 17:52 12-12-97
Ibexx |
