Informacion economica sobre Cuba

Brazil to set up $220 million glass factory in Cuba

Published on November 2, 2012

HAVANA, Cuba (ACN) — The Brazilian Ministry of Development, Industry

and Foreign Trade will grant a $220 million credit to Fanavid SA to

build a glass factory in Cuba, Hipolito Rocha announced.

Rocha, general director of the Brazilian Trade and Investment Promotion

Agency (Apex-Brasil) office in Havana, told ACN news agency that

feasibility studies were ready and the Cuban counterpart to Fanavid

showed interest in carrying out this joint project.

Several media outlets reported that Fanavid SA is the first Brazilian

company that makes a commitment to open a facility in the Mariel

Industrial Development Zone, during the visit made by the Brazilian

minister Fernando Pimentel to that area.

BBC Mundo reported that 80 percent of the factory's output will be sold

in Brazil and in several Caribbean nations.

Rocha said that executives from Fanavid will meet with Cuban officials

from the construction sector during the XXX Havana Trade Fair, which

runs from November 4 through 10.

Another project on the bilateral agenda is the export to Brazil of

Heberprot-P, a Cuban medicine for the treatment of diabetic foot ulcers,

Rocha said.

In this regard, he added that this will be a large scale agreement and

should materialize later this year.

At present, the Brazilian government reinforces cooperation and

development plans with Cuba, granting multi-million dollar credits for

major projects such as the extension of the port of Mariel, and

agricultural production.

In 2011, Brazil became the largest supplier of food to Cuba, and the

second largest market for Cuban pharmaceutical and biotechnology exports.

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