Brazil's Batista could seek to buy Vale shares

NEW YORK, Sept 22 (Reuters) - Eike Batista, a Brazilian industrial magnate, said on Monday he may consider buying a stake in Vale (VALE5.SA)(VALE.N), the world's largest iron ore exporter, if given the chance.

Brazilian economic newspaper Valor Economico reported earlier that Batista has been in talks with major Vale shareholders, including Banco Bradesco (BBDC4.SA) and Banco do Brasil's (BBAS3.SA) pension fund Previ, about potentially buying out part of their stakes in Vale.

When asked by reporters whether he was in the process of negotiating an acquisition of Vale shares, Batista said "No, we're not."

When pressed on whether he would seek Vale shares, he said: "We have a lot of capital, and if there is space for us, we can make things happen. We are always analyzing this kind of thing."

He declined any further comment on a potential stake acquisition.

Batista also said that Vale, Brazil's largest private company, could do more to build up Brazil's infrastructure at a faster rate, including building more steel infrastructure. Vale now mines iron ore and other base metals for export, as well as holding small stakes in Brazilian steel plants.

"Brazil is the world's cheapest producer of steel. That's why I think it (Vale) could do more to build steel plants and other infrastructure," Eike told reporters following a dinner to honor Brazilian President Luiz Inacio Lula da Silva in New York.

Batista's Rio de Janeiro-based EBX holding companies (OGXP3.SA) in Brazil have plans to invest up to $10.2 billion in areas such as mining, oil, logistics and steel by 2012, a company spokesman said.

Batista said it may take years for private Brazilian oil companies, such as his OGX, to gain significant stakes in Brazil's bountiful subsalt oil prospect in deep waters in offshore Brazil, where state-controlled Petrobras (PETR4.SA)(PBR.N) has made huge oil discoveries since 2007.

"It was Petrobras' technology that discovered that oil and it's Petrobras that will start to explore it. The Brazilian private sector may gain access to the subsalt reserves after some time," Batista said.

Batista's OGX company has plans to drill 52 wells in Brazil, but its prospects are mostly located in shallow waters and it holds no acreage in Brazil's new subsalt oil play as of yet.

Batista said his companies are planning to build a major shipyard in Brazil to help supply the oil industry with drilling platforms and tanker ships in years to come. (Editing by Muralikumar Anantharaman)