December 4, 2019 / 9:15 PM / 6 days ago

Brazil's JBS plans $1.91 billion Brazil investment - CEO

FILE PHOTO: The logo of Brazilian meatpacker JBS SA is seen in the city of Jundiai, Brazil June 1, 2017. Picture taken June 1, 2017. REUTERS/Paulo Whitaker

SAO PAULO (Reuters) - JBS, the world’s largest animal protein producer, plans to invest about 8 billion reais ($1.9 billion) in Brazil over five years as it braces for strong demand for meat products at home and abroad, Chief Executive Gilberto Tomazoni said on Wednesday.

According to the executive, the expected growth in protein demand should continue over the next decades, which justifies plans to increase capacity of the company’s meat and processed products in Brazil.

Reporting by Aluisio Alves; Writing by Ana Mano; Editing by Jonathan Oatis

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