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General Electric To Invest BRL500 Million In Brazil Technology Center

RIO DE JANEIRO -(Dow Jones)- General Electric (GE) said Thursday it will invest 500 million reais ($245.5 million) in a research and development center in Rio de Janeiro. The center, which should be operational in the second half of 2013 and employ 400, will focus on development of biofuels, alternative-energy systems, intelligent systems and systems integration, said Ken Herd, GE's global research center head in Brazil at a ceremony to mark the laying of the center's foundation stone. Mark Little, a GE vice president, said the center also will develop subsea technologies together with clients including Petroleo Brasileiro SA (PBR, PETR4.BR), Statoil ASA (STO, STL.OS) and OGX (OGXPY, OGXP3.BR). "We will try to understand the specific needs of these companies," Little said. "Presalt is a major challenge for the Brazilian oil industry." In the areas of biofuels, the center will work on production and use of biodiesel in locomotives and biokerosene for aircraft, he said. The center also will study how to break down bagasse, which is used in ethanol production, to reuse its water content and produce more energy that can be sold to the grid, Little said. GE already has signed accords with Petrobras, Vale (VALE, VALE5.BR), OGX and Embraer (ERJ, EMBR3.BR) for the development of projects of interest to those companies, the executive said. -By Diana Kinch, Dow Jones Newswires; 55 21 7564 4495; Diana.Kinch@dowjones.com

Stock News for Companhia Vale Do Rio Doce (VALE)
DateTimeHeadline
09/15/201409:21:18Correction to China Mining Story on Sept. 11
09/12/201412:44:14Vale, Cosco Group To Cooperate On Iron-Ore Shipping
09/10/201423:00:11China's Global Mining Play Is Failing to Pan Out
09/10/201405:56:18Baron Oil Takes Control of Peruvian License; Shares +16%
09/10/201403:18:45Baron Oil Signs Pact for Peruvian License
09/05/201417:38:25Brazilian Stocks Snap Winning Streak Ahead of Opinion Poll on...
08/06/201404:14:07Zambia Copper Output Rise 16% in First Half
08/01/201417:41:36Brazilian Shares Close Little Changed, JBS Rises; Real Stronger...
07/31/201415:49:46Brazil's Vale: Iron-Ore Price Floor Still $110/Ton Long-Term
07/29/201417:41:02Brazil Stocks Close Lower; Real Weakens Against Dollar
07/28/201418:10:48Brazilian Stocks Close Lower; Real Stronger Against Dollar
07/24/201410:20:21Brazil's Vale Posts Record 2Q Iron-Ore Output
07/24/201409:57:32Brazil's Vale Posts Record 2nd-Quarter Iron-Ore Output
07/17/201413:06:40Brazil's Vale Signs $2.5 Billion Financing Agreement With Bank...
07/17/201408:24:55Zambia Jan-May Copper Output Up 18% on Year on Expansions
06/04/201417:31:41Brazil's Suzano to Buy Forest Assets for BRL529 Million
06/03/201422:30:15Iluka Agrees Titanium Venture With Vale in Brazil
05/16/201416:55:55ADR Shares End Higher; Total, Baidu Shares Active
05/16/201414:30:14Rio Tinto Assures Guinea on Iron-Area Project
05/12/201404:37:37Obtala Gets Further Order for Timber Railway Sleepers from Vale

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