Brazilian conglomerate Odebrecht plans to invest US$20 bln over the next three years

07-May-13

Brazilian conglomerate Odebrecht plans to invest $20 billion globally over the next three years, mostly in Latin America and much of it in Peru, as per Reuters. About 85% of this would be made in Latin America. Family-owned Odebrecht, one of Latin America's biggest companies, has businesses in construction, petrochemicals, transportation, oil and gas in 20 countries worldwide. Outside Brazil, its largest investment destination will be fast-growing Peru, which "has many opportunities because there are lots of concessions and public-private partnerships," organized by the government. Later this year, the company plans to bid in a Peruvian government tender to build a US$1.8 billion, 620-mile natural gas pipeline in the south of the country. In addition to the pipeline, the government in Lima plans to develop a 2,000 megawatt gas-fired power plant on the Pacific coast and a 200 megawatt plant in Cuzco. Odebrecht, which owns a stake in petrochemicals giant Braskem, said construction of Peru's first petrochemical complex on the coast could be an asset for the region.