General Electric To Build Brazilian Research Center

GE to invest $550 million to build research center in Brazil that will focus on development of products for energy, health and information technology sectors.

BRASILIA (AP) -- General Electric Co. says it will invest $550 million to build a research center in Brazil.

Science and Technology Minister Aloizio Mercadante says General Electric's CEO Jeffrey Immelt announced the investment plans during a Wednesday meeting with President Dilma Rousseff.

Mercadante says the research center in Rio de Janeiro state should be inaugurated in two years.

He says the center will focus most of its activities on the development of products for the energy, health and information technology sectors.

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