GE to Invest $500 Million in Brazil

General Electric Company GE announced today that it plans to invest $500 million to expand its operations in Brazil and to accelerate technology partnerships with leading Brazilian companies spanning multiple industries. The announcement was made this morning at a news conference in Rio de Janeiro, which was chosen as the home for GE's newest multi-disciplinary Research and Development Center. The $100 million Brazil Global Research Center will be located on the Ilha do Bom Jesus peninsula and, when fully operational, will employ 200 researchers and engineers. Work at the center will focus on advanced technologies for the oil & gas, renewable energy, mining, rail and aviation industries.