Germany’s Herrenknecht AG plans to open a tunneling machine factory in Brazil by 2013, Folha de Sao Paulo newspaper reported, citing the company’s general director for the South American country, Juan Manuel Altstadt.
Herrenknecht expects to invest 15 million euros (34.2 million reais) in the plant, according to the Sao Paulo-based newspaper. The company plans to export its equipment from Brazil to the rest of Latin America and possibly to Africa and also wants to provide machinery for the country’s expanding oil drilling sector, Altstadt said, according to Folha.
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