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Latino Daily News

Friday April 18, 2014

France’s Renault to Invest $222 Million in Brazilian Plant

French automaker Renault announced that it will invest 500 million reais ($222 million) over the next five years in the production of two new models at it plant in Sao Jose dos Pinhais in the southern Brazilian state of Parana.

Renault also announced the construction of a distribution center for vehicle parts at Quatro Barras, Parana, with an investment of 240 million reais ($106 million) in the next 10 years, an amount that will include operating costs, according to a commmunique.

The new distribution center, with an area of 66,000 sq. meters (237,000 sq. ft.), will start operations in the second half of 2014 and will create 250 direct jobs.

The company also announced that it has now concluded, two years ahead of schedule, the investment planned for Brazil during 2010-2015, to the amount of 1.5 billion reais ($666 million).

In the first quarter of the year, Renault had 6.7 percent of new car sales in Brazil and its goal for 2016 is to reach 8 percent.

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