ENERGY
GenPower power plant
GenPower Holdings has broken ground for the 695MW, $1bn coal-fired Longview Power Plant project in West Virginia. The plant will use high-efficiency pulverised coal technology and new combustion and post-combustion technologies to control emissions. The investment is expected to create some 100 jobs. GenPower specialises in the development of electrical generation plants.
PRODUCTION
Chrysler Indiana factory
The Chrysler Group is to build a transmission factory in Kokomo, Indiana, that could eventually employ more than 1000 people and involve an investment of $560m. DaimlerChrysler announced in May it would sell 80.1% of Chrysler Group to New York private equity firm Cerberus Capital Management, the highest bidder.
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Eastman $1.6bn gas facility
Eastman Chemical Company has announced plans to develop a $1.6bn state-of-the-art industrial gasification facility to be located in Beaumont, Texas. The new facility is expected to generate 1300-1500 construction jobs and more than 250 permanent jobs. Eastman expects the plant to be online in 2011.
Swedish Uruguay investment
Swedish paper, packaging and wood-products company Stora Enso is to build a packaging plant in Uruguay, that will have an annual production of one million tonnes. Stora Enso’s sales totalled €14.6bn ($20.6bn) in 2006. The group has some 44,000 employees in more than 40 countries, with an annual production capacity of 16.5 million tonnes of paper and board and 7.4 million cubic metres of sawn wood products, including 3.2 million cubic metres of value-added products.
Venezuelan metal works
Duro Felguera, a Spanish industrial manufacturing firm, has constructed an iron and steel treatment plant in Venezuela, capable of manipulating 26 million tonnes of minerals annually.
CONSTRUCTION
Tourist resort in Mexico
Spanish property company Fadesa is to build what will be its largest holiday resort in the Mexican state of Baja California Sur, called Loreto Paraíso. Fadesa will invest about $5.4bn. The resort will be set in the town of Loreto, the oldest town in Baja California Sur, situated 350 kilometres north of its capital, La Paz.
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The residential area of Loreto Paraíso will contain approximately 6500 homes, including apartments and semi-detached, terraced and detached villas. The hotel accommodation will offer more than 7000 rooms in luxury hotels, upper-upscale hotels, boutique hotels, as well as fractional property, time-shares and condo hotels. The resort will also have four golf courses.
This investment news and data has been provided by OCO Consulting, a provider of strategic consulting services for economic development organisations in the area of FDI. Key services include management consultancy, investor targeting services, training and mentoring, and software development.
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