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Brazil to build new auto factory at Acu port complex

It is reported that increasing automotive demand in Brazil has prompted Brazilian billionaire Mr Eike Batista to invest USD 1 billion to build a new auto factory in Brazil's industrial port in Acu.

As per report, the auto complex will include two lines producing approximately 200,000 vehicles per year.

The Acu port complex is currently being developed by LLX Logistica SA, a Batista owned company. The complex will also include an oil processing plant, iron ore export facilities, as well as a steel mill joint venture between Brazil's EBX (30% stake) and China's Wuhan Iron and Steel Company (70% stake).

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