Brazil tycoon Batista plans $10.3 bln investments
SAO PAULO, Sept 17 (Reuters) - Brazilian billionaire Eike Batista, whose EBX conglomerate controls oil, energy, mining and transportation assets in the country, plans to invest $10.3 billion through 2012 as he bets on a rebound in global growth, Valor Economico newspaper reported on Thursday.
Batista said in an interview with Valor he is "super capitalized" to fund the investment plans, with $6.2 billion in cash at his four publicly traded companies and another $3 billion at EBX, a privately held corporation.
Apart from the cash at his companies, Batista told Valor he may also tap Brazil's state development bank BNDES and the Chinese Development Bank for part of the funds.
OGX Petroleo e Gas Participacoes (OGXP3.SA), EBX group's oil and natural gas unit, will spend $4 billion through 2012, including $2.5 billion to drill 52 exploration wells off Brazil's coast, the daily reported.
MMX Mineracao e Metalicos (MMXM3.SA) plans to spend $1 billion to expand iron ore output, while LLX Logistica (LLXL3.SA) will invest $2.34 billion in two ports in southeastern Brazil, Valor said. Batista expects to complete the sale of a stake in MMX to China's Wuhan Iron and Steel Co (600005.SS) by the end of the year, the daily reported.
Batista's electricity generator MPX Energia (MPXE3.SA) has planned investments of $2 billion to set up two thermoelectric plants that will use coal from the company's mines in Colombia, Valor said.
Batista's most recent venture, a ship builder called OffShore Services X, or OSX, will spend $1 billion to set up a shipyard, betting on a jump in demand from oil services companies prospecting Brazil's subsalt reserves, the daily reported. (Reporting by Elzio Barreto; editing by Stuart Grudgings and Dave Zimmerman)
