CVRD investments of US$ 11 billion in 2008

The 2008 budget is part of the firm's strategic plan and underpins the 5 year, U$59 billion investment program and consequently involves a significant increase in capex for organic growth as compared with the period 2003-2007, estimated at US$ 18 billion. The decision to invest on such a huge scale is firmly based on our confidence in the long-term fundamentals of the global economy and on the belief in a structural change in the demand for minerals and metals.

The Company will concentrate on organic growth, with the development of a wide portfolio of projects founded on its world-class asset base. In order to support this expansion, CVRD will invest heavily in logistics infrastructure and energy generation.