Global Processing

Odebrecht to invest heavily in Latin America

May 6, 2013
Peru oil pump
CEO Marcelo Odebrecht said Peru is the company's largest investment destination outside of Brazil.

Brazilian conglomerate Odebrecht announced May 1 plans to invest $20 billion globally over the next three years, 85 percent of which will be invested in Latin America, Reuters reported.

Odebrecht, one of Latin America's largest companies, consists of diversified businesses in engineering, construction, chemicals and petrochemicals.

CEO Marcelo Odebrecht said Peru is the company's largest investment destination outside of Brazil. The company plans later this year to bid in a Peruvian government tender for the construction of a 620-mile natural gas pipeline.

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Odebrecht, which controls petrochemical giant Braskem, is also looking to invest in the Peruvian petrochemical industry.

"We are looking at much more than a pipeline, we want a comprehensive project that considers all investments in gas, in petrochemicals, and thermoelectric. We are talking about a project worth more than $15 billion dollars," Odebrecht said.