GE's $500M plans for Brazil oil and gas, renewable energy and mining
General Electric hopes to accelerate technology partnerships with top companies of Brazil across various industries. In order to accomplish this goal, GE is investing an impressive $500 million in the expansion of its operations into Brazil.
General Electric hopes to accelerate technology partnerships with top companies of Brazil across various industries. In order to accomplish this goal, GE is investing an impressive $500 million in the expansion of its operations into Brazil.
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The company intends to establish its new multi-disciplinary Research and Development Center in Rio de Janeiro, Brazil.
The Brazil Global Research Center, worth a total of $100 million, will be situated on the Ilha do Bom Jesus peninsula. The center is expected to generate 200 research and engineer jobs once fully operational.
The center will be focused on advanced technologies within the oil and gas, renewable energy, mining, rail and aviation industries.
"For 90 years we have formed strong relationships throughout Brazil with many trusted partners," said Ferdinando Beccalli-Falco, President and CEO of GE International.
"As we look ahead, we see an even brighter future that requires aggressive investment, which will result in more innovation coming to market. Brazil offers GE some of the most sophisticated and aggressive customers in the world.
The Brazil Global Research Center will be a hub for deepening relationships that will result in growth for GE, its customers and the country."
The company also intends to invest $400 million for technology, product development, new plant and equipment, training and human capital over the following three years.
Mark Little, Senior Vice President of GE Global Research, said, "Brazil presents tremendous opportunity for growth and increased collaboration with our customers.
Over the past decade GE Global Research has expanded our operations in the United States, Asia and Europe. This has allowed our researchers to more effectively collaborate with customers and other technologists around the world to speed the pace of innovation.
The Brazil GE Global Research Center is an important part of that strategy."
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