Cencosud and Vale do Rio Doce keep the faith in Colombia

Big regional players Vale do Rio Doce and Cencosud - of Brazil and Chile respectively - will not be suspending investment in Colombia despite the escalating row between the latter nation and its neighbours Ecuador and Venezuela.

The executive director of finance at the diversified mining giant Vale, Fabio Barbosa has said that he expects the row to be solved before it reaches true crisis proportions. The firm is considering establishing an aluminium-processing plant in Colombia or in the Middle East as confirmed by company president Roger Agnelli.

The leading executive within the holding company Cencosud, Laurence Golborne has reassured Colombia that his operation invests with a long-term mentality always. It will not be put off by this (for now merely) diplomatic row as it gets its alliance with Casino, involving the Easy format, underway locally.

Publication: SABI - Business News
Provider: South American Business Information
Date: March 12, 2008

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