Brazil to set up $220 million glass factory in Cuba

Brazil to set up $220 million glass factory in Cuba
Published on November 2, 2012

HAVANA, Cuba (ACN) -- The Brazilian Ministry of Development, Industry
and Foreign Trade will grant a $220 million credit to Fanavid SA to
build a glass factory in Cuba, Hipolito Rocha announced.

Rocha, general director of the Brazilian Trade and Investment Promotion
Agency (Apex-Brasil) office in Havana, told ACN news agency that
feasibility studies were ready and the Cuban counterpart to Fanavid
showed interest in carrying out this joint project.

Several media outlets reported that Fanavid SA is the first Brazilian
company that makes a commitment to open a facility in the Mariel
Industrial Development Zone, during the visit made by the Brazilian
minister Fernando Pimentel to that area.

BBC Mundo reported that 80 percent of the factory's output will be sold
in Brazil and in several Caribbean nations.

Rocha said that executives from Fanavid will meet with Cuban officials
from the construction sector during the XXX Havana Trade Fair, which
runs from November 4 through 10.

Another project on the bilateral agenda is the export to Brazil of
Heberprot-P, a Cuban medicine for the treatment of diabetic foot ulcers,
Rocha said.

In this regard, he added that this will be a large scale agreement and
should materialize later this year.

At present, the Brazilian government reinforces cooperation and
development plans with Cuba, granting multi-million dollar credits for
major projects such as the extension of the port of Mariel, and
agricultural production.

In 2011, Brazil became the largest supplier of food to Cuba, and the
second largest market for Cuban pharmaceutical and biotechnology exports.

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