Hitachi Energy to invest $77 million in new Brazil plant
Hitachi Energy to invest $77 million in new Brazil plant SAO PAULO, Oct 22 (Reuters) - Hitachi Energy will build a new plant in Brazil to produce components for power transformers, the company said on Thursday, in a $77 million investment aimed at expanding supplies of equipment essential to power infrastructure.
The announcement brings the current investment plan of the energy unit of Japanese conglomerate Hitachi 6501.T in Brazil to $350 million, the firm said in an interview, adding that it would more than double its production capacity in the segment.
The new plant will be located in Pindamonhangaba, Sao Paulo state, adjacent to a facility the company is building to manufacture high-voltage transformers
The unit will make components such as bushings and tap changers
The facility will supply the Brazilian market and other strategic export destinations, including North America and the Middle East
Part of the investment will also be used to expand the production of electrical insulation materials at the firm's facility in Guarulhos, Sao Paulo state
(Reporting by Leticia Fucuchima; Writing by Fernando Cardoso; Editing by Gabriel Araujo)
((fernando.cardoso@thomsonreuters.com;))
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