Investments
InvestmentsPortuguese paper maker looking to invest in Uruguay
Portuguese pulp and paper maker Portucel will decide before the end of the year whether it will build a plant in Uruguay, government representatives announced. This would become the fourth pulp mill to be established in Uruguay.
Botnia pulp mill to begin production in mid November
Uruguay announced Friday that the Botnia-Orion pulp mill, which has been at the heart of an ongoing bitter controversy with Argentina, is set to begin production in mid November conditioned to the finishing of a bicycle lane and an alternative water intake for the plant.
Bill Gates anticipates voice-text-video integration revolution
Computer giant Microsoft is getting into the telephone business. Chairman Bill Gates was in San Francisco for the official launch of software linking a person's phone, computer and other communications devices.
Four groups after ESSO assets in South America
Brazil's Petrobras, Venezuela's PDVSA and two Argentine groups are interested in acquiring US oil coporation Esso assets in South America, reports El Cronista, a business newspaper from Buenos Aires.
Uruguay: mega integrated beef cattle project announced
Uruguayan representatives of Britain's Breeders & Packers announced this week in Montevideo plans for an abattoir with an annual capacity of 320.000 head of cattle bred in feed lots involving investments of over 100 million US dollars.
Chile plans to invest 17 billion US dollars in mining industry
Chile's Mining Minister Karen Poniachik disclosed Monday that Chile is anticipating 17 billion US dollars on new gold and copper mining investment in the next five years. Poniachik said the new cash infusion is needed to replace existing mines whose reserves are running out and to bolster output.
Brazil tightening on foreign purchase and ownership of land
Global liquidity in recent years has led to a boom, --and speculation--, in real estate and farming land in Mercosur member countries. Argentina, Brazil, Uruguay and Paraguay have seen land prices soar pushed by foreign buyers and now governments are reacting tightening restrictions on land ownership.
Ecuador willing to rework contracts with foreign oil companies
Ecuador offered on Friday to rework the contracts of foreign oil companies that object to a decree sharply reducing their share of windfall oil revenues. President Rafael Correa surprised companies on Thursday by decreeing that the government will take 99% of the profits gained when oil prices rise above contracted levels. Previously, it was a 50-50 split.
India's Mittal takes leading control of Argentine steel industry
ArcelorMittal the world's largest steel group announced plans to offer 542 million US dollars to take over Argentina's Acindar and increase its presence in Latinamerica.
Sao Paulo holds Kyoto Protocol “carbon market” auction
A bank from the Netherlands has emerged as the winning bidder in an auction which marks a new phase in the global “carbon market” reports the BBC. Fortis Bank has paid more than 13m Euros for the rights to emit 800,000 tons of carbon dioxide, in the first such auction to be held in a regulated exchange, the Brazilian Mercantile and Futures Exchange (BM&F
