GE announced plans to set aside $500 million to expand operations in Brazil and help the local energy sector increase its footprint in multiple industries.
A $100 million research center will focus on new and emerging technologies in oil and gas, renewable energy and other sectors, the company said.
GE said the plans include a $200 million investment for new wind turbine developments in Brazil.
"For 90 years we have formed strong relationships throughout Brazil with many trusted partners," said Ferdinando Beccalli-Falco, president of GE International, in a statement. "As we look ahead, we see an even brighter future that requires aggressive investment, which will result in more innovation coming to market."
GE said construction on its new research center in Brazil will start by the middle of next year. Completion of the center on the Ilha do Bom Jesus Peninsula is scheduled for late 2012.
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