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IBM, Brazil's richest man to be partners in
chip factory
Tuesday November 20, 2012 10:41:43 AM,
EFE
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Rio de Janeiro: Brazilian authorities announced Monday the construction of a
semiconductor factory costing 1 billion reais ($500 million) that
will have among its partners IBM and Eike Batista, Brazil's
richest man.
SIX Semiconductores will be the second semiconductor factory in
Brazil and the most modern in Latin America, Minas Gerais state
Gov. Antonio Anastasia said at the ceremony to launch the project.
Also participating in the event was federal Development, Industry
and Foreign Trade Minister Fernando Pimentel.
Both the federal and state governments will help to finance the
initiative.
The factory will be built in Ribeirao das Neves, a suburb of Belo
Horizonte, the state capital.
The two biggest partners will be the Batista-controlled SIX
Solucoes Inteligentes and BNDES development bank, the financial
arm of the Brazilian government.
Each will have a 33 percent interest in the project, and the SIX
Semiconductores plant will create 300 direct jobs when it is up
and running.
The other partners in the project will be IBM, the Minas Gerais
State Development Bank and the Matec Investimentos and Tecnologia
Infinita WS-Intecs groups.
The only chip factory in Brazil is a state-owned plant recently
launched in the state or Rio Grande do Sul that has yet to begin
production.
Construction on the new factory will begin this year and it is
slated to begin operating in 2014.
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