09/19/2008 15h01
Hyundai confirms new plant in São Paulo
Gazeta Mercantil - 09/19/2008
Hyundai confirmed yesterday, at the
Palácio dos Bandeirantes (the headquarters of the government of the State of São Paulo), its option for the State of São Paulo for the setting up of its first industrial unit in Brazil. Governor Jose Serra informed that, among several measures, the State will provide the support required in the negotiations between Hyundai and the Brazilian Development Bank (BNDES) for the financing of the acquisition of industrial goods and to make the credit line available at
Nossa Caixa bank. Under the tax aspects, the State, by means of the Finance Department, will grant, in a Special System, the suspension of the payment of the ICMS (State Sales and Services Tax) incurring on the importation of goods, equipment, and parts, without a local equivalent, intended for the integration in the fixed assets. The payment of that debt can be made within 48 months. The benefit is part of the
Proveículo program, ruled by Governor Serra in June. In an official announcement the Governor informed that, besides the incentives that have already been granted within the scope of the
Proveículos, the Finance Department of the State of São Paulo is also committing itself to the implementation of measures that prevent the accumulation of ICMS credits. He also emphasized that the investments made by the makers have been invigorating the car sector in the State, which concentrates 44% of the national production of automobiles. With the Hyundai plant, São Paulo will have 9 makers installed in its territory. Should the makers of trucks and agricultural machines be taken into account, the total of industries of the sector in the State goes up to 20. Another decisive factor for choosing São Paulo is its wide infrastructure, with highways, access to ports as well as the training of specialized manpower. The investors still have the São Paulo System of Technological Parks. This initiative seeks to foment research and technological innovation by providing support to the development of business practices. The Serra administration foresees the implementation of ten such parks in the State in cities like Campinas, Ribeirão Preto, São Carlos, São José dos Campos, Piracicaba and São Paulo. In the protocol, Hyundai agrees to give priority to the São Paulo market in the acquisition of car parts and capital goods required for the implementation of the industrial unit. Besides, the company will carry out new investments and will create other jobs during the second phase of the project.
