<i>Camargo Corrêa</i> to invest US$ 5.64 billion
Valor Econômico 10/19/2007
The trend of optimism which has taken over several Brazilian corporate groups has also reached the Camargo Corrêa conglomerate. With a sundry business portfolio – from engineering and construction to consumer goods, passing by concessions in the sectors of energy and highways and manufacturing of cement and steel -, the group has just approved a package of investments of R$ 10.3 billion (US$ 5.64 billion) for the period between 2008 and 2012, 25% superior to the R$ 8 billion (US$ 4.4 billion) invested in last seven years. From this amount, 40% shall be intended in the area of cement. Vitor Hallack, who has recently become the President of the Board of Directors of the Camargo Corrêa S.A holding, after staying at Embraer for a long period and at Vale do Rio Doce until 1993, has just passed in Camargo Corrêa’s Board what is called the ”five-year cycle”, with a bold goal of being among the five largest non-financial groups of national capital. The goal of the group, which sees many business opportunities in the infrastructure area, mainly in the operation of concessions - energy, highways, ports and airports -, is to get to the end of 2012 with a gross income of R$ 38.6 billion (US$ 21.13 billion), which means an annual average growth of 23%. The bet of the group involves all sectors in which it works. 123