Brazil’s Odebrecht bets on Mexico, eyes oil reform

Flag-Pins-Mexico-BrazilReuters, 10/03/2013

Brazilian conglomerate Odebrecht has an $8.1 billion investment plan to expand in Mexico’s petrochemical and infrastructure sectors, the chief executive of its Mexican business said on Wednesday. “We expect strong growth in Mexico in the next few years,” Luis Weyll, chief executive of Odebrecht’s Mexican operation, told Reuters in an interview.

However, Odebrecht SA , which had global revenue of $41 billion last year, has no plans yet to take part in any opening of Mexico’s energy sector, preferring to watch from the sidelines as the government tries to overhaul the oil industry.

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