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CFK holds meeting with Planning Minister, investments discussed
Buenos Aires Herald
December 22, 2009

During a meeting with President Cristina Fern ndez de Kirchner, Telef nica Argentina President Eduardo Caride announced local investments will be of US$ 2.1B during 2010, 30 per cent more than in 2009.

In addition, agricultural-industrial company Ledesma informed CFK their investments will reach US$222M in the 2008-2011 term.

Caride also added that he expects a further growth of 14 per cent for the company's investment in the Internet market. This US$2.1B investment represents a 30 percent increase compared to 2009 figures. In addition, Caride explained the company's plan to boost "mobile Internet": due to the need of managing large amounts of information, communication sites and spots will point specifically to optical fibre connection. "We will push optical fibre up to places with mobile antennas", Caride said.

Also, Carlos Pedro Blaquier, Ledesma's chairman, held a meeting with President Cristina Fern ndez de Kirchner at her Olivos residence where he reported the investments for the 2008-2011 term, which will reach US$222M. This investment were developed with company funds. Blaquier and executive Federico Nicholson also highlighted the fact that company is about to enter into the bio-fuel r gime, with investments reaching US$37M.

Planning Minister Julio de Vido was also present during the meeting. Blaquier stated that "from January the 1st on, the supply of gasoline containing a 3% of bioethanol will start". For the company, this represents "a remarkable development for the Argentine northwest region." De Vido commented on these announcements: "Around September or October of 2010, we will reach a 5% of bioethanol blended in gasoline."

Another inversion to highlight is that of Volkswagen. Ronnie Frost, director for public affairs at Volkswagen Argentina, assured that the company has invested more than US$1.6B in its Pacheco plant destined to producing and manufacturing Volkswagen's first pick-up, which will be introduced as the "official vehicle" for the Bicentennial Dakar in 2010. The company reported the creation of 8.000 new employment opportunities.

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