Increasing automotive demand in Brazil has prompted Brazilian billionaire Eike Batista to invest $1 billion to build a new auto factory in Brazil's industrial port in Acu. The auto complex will include two lines producing approximately 200,000 vehicles per year, according to Dow Jones.
The Acu port complex is currently being developed by LLX Logistica SA-a Batista-owned company. The complex will also include an oil-processing plant, iron ore export facilities, as well as a steel mill joint venture between Brazil's EBX (30 percent stake) and China's Wuhan Iron and Steel Company (70 percent stake).