Alcoa To Up Investment in Brazil

The world’s largest aluminum producer, Alcoa of the US, has approved investments in Brazil totaling $1.6 billions saying this will result in increased sales abroad of $400 million and to the domestic market of $200 million. The amount invested will go towards expanding its aluminum production at the Alumar refinery in the state of Maranhao, developing a bauxite mine in Juruti in the state of Pará and modernizing an aluminum plant in Minas Gerais.