Brazil’s Odebrecht plans $8.1 billion landmark investment in Mexico

Brazilian conglomerate Odebrecht ODBES.UL plans to spend $8.1 billion in Mexico in the next five years in what appears to mark the biggest investment pledge yet from a Brazilian firm in Latin America’s No. 2 economy.

Odebrecht, one of Latin America’s biggest family-owned companies, will invest in petrochemicals, renewable energy, ethanol and sugar production and highway concessions, according to a statement put out by the office of Mexico’s president.

Marcelo Odebrecht, the company’s chief executive, on Tuesday met Mexican President Enrique Pena Nieto, the statement said.

Odebrecht had no immediate comment on the announcement.

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