German state and Espírito Santo Group together to invest in Paraguai.O German state through KfW Development Bank , will invest 25 million euros in Paraguay Agricultural Corporation , a company of Rioforte , the investment company of the Group nonfinancial Spirit , the company said . According Rioforte , the partnership with DEG - subsidiary of KfW , the bank , according to the press , is advising the Government for the creation of a development bank in Portugal - will enable accelerate growth in Paraguay operations agricultural , livestock and forestry , from a total area now has more than 135 000 hectares . The investment of 25 million euros in the capital of Paraguay Agricultural Corporation KfW will give a minority stake of the share capital of that company , 100% owned by Rioforte , a company statement clarifies the Espírito Santo Group . The KfW investment will enable the expansion and increased productivity of various agricultural operations ( soybean, cotton , corn and wheat ) , through increases in cultivated area , irrigated area and investment in rice production , especially through the transformation of land affects to livestock . It will also be made a bet on the development of certified forest , taking advantage of very attractive opportunities already identified and tested with great success by the local management team , according to John Pena , CEO Rioforte , quoted in the same statement. The manager adds that the investment program is also active in the continuous improvement in technology and processes in livestock production , taking advantage of the growing success of Paraguayan beef in the most important international markets . According to Bloomberg , Rioforte manages assets estimated at 3.2 billion euros .jornaldenegocios.pt/empresas/detalhe/estado_alemao_e_grupo_espirito_santo_juntos_para_investir_no_paraguai.html
Posted on: Wed, 13 Nov 2013 00:42:30 +0000