28 November 2011 20:13 [Source: ICIS news]
SAO PAULO (ICIS)--Brazil’s miner and fertilizer producer Vale plans to invest $21.4bn (€16.1bn) in 2012, the company said on Monday.
Vale said it has earmarked $12.9bn for project execution, $6.1bn for existing operations and $2.4bn for research and development.
Of the total, some 9.6% will be used in its fertilizer business, while 63.7% will be spent in Brazil, Vale said.
In 2011, the company had initially planned to invest $24bn. So far, investments have totalled to about $11.3bn from January through September 2011.
($1 = €0.75)
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