Ultramar to invest R$300m in Rio Grande PortJun, 10, 2019 Posted by datamarnews
The business mission to Chile led by the president of Rio Grande do Sul State’s Industrial Federation (Fiergs), Gilberto Porcello Petry, has resulted in an agreement for Chile’s Ultramar to expand its operations in Rio Grande Port by investing approximately R$300m. The investment will be used to increase the area occupied by the port in order to handle wood and pulp production. Meanwhile, Chilean firm CMPC Celulosa, is already present in the city of Guaíba and plans to increase its investment in Brazil.
Last year, the trade balance between the Rio Grande do Sul and Chile stood at over US$346m, with the state’s vehicle exports accounting for 42% of total exports to Chile (worth US$206.54m). The state’s imports of organic chemicals accounted for 29% of the total imported from Chile, (worth US$41.68m).
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