Brazilian businessman Marcelo Odebrecht plans to invest "approximately $8.1 billion over the next five years in Mexico," the Office of the President said Tuesday.
The funds, of which $1.8 billion was already spent "to develop studies and projects," will go into "the petrochemical, sanitation, renewable hydraulic energy, ethanol and sugar production, and renewable biomass energy sectors, and highway concessions," the Office of the President said in a statement.
The Brazilian businessman, who heads the Odebrecht consortium, discussed his investment plans during a meeting with Mexican President Enrique Peña Nieto.
Odebrecht told Peña Nieto that "the idea is to generate nearly 20,000 direct jobs and another 60,000 indirect jobs by the year 2016," the statement said.
Peña Nieto expressed Mexico's interest in "attracting productive investments that create jobs and better living conditions for Mexicans," the statement said.
Odebrecht is a conglomerate with interests in engineering and construction, infrastructure, energy, industrial enterprises and other sectors.
The Brazilian company is one of the largest civil engineering firms in Latin America, operating in Argentina, Bolivia, Panama and Mexico.
The company also has operations in the United States and the Middle East. EFE