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Cargill May Invest $1B in Latin America in Next Five Years

CEO: Will maintain operations in Venezuela despite economic crisis

Cargill Inc. could invest up to $1 billion in Latin America over the next five years, its chief executive said, and will maintain its operations in Venezuela despite challenges brought on by an economic crisis, Reuters reports.

Argentina, Brazil, Colombia and Chile offer favorable conditions for private investors, Chief Executive David MacLennan said in an interview late on Tuesday, though he declined to provide details of possible purchases by the company in coming years.

Cargill recently bought Colombian poultry processors Pollos El Bucanero and Campollo and expects to invest between $200 and $300 million in the Andean country in the next two years, MacLennan said, mostly to improve efficiency and expand the capacity of two processing plants.

Read the full report here.

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