General Motors says it will invest $ 2,100 million

October 24, 2012

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President Cristina Fernandez accompanied by Economy Minister Hernan Lorenzino received in her office at the Government House to executives of General Motors Argentina (GMA) headed by its president, Dan Akerson, who announced the investment of the “Phoenix Project” that will generate exports for 1,200 million dollars a year.

The investment of $ 2.133 million will generate exports of $ 1.200 million a year, so the company will correct the current disparity that occurs in its trade balance.

It will improve local integration levels, increasing the current supplier base and keep the plant operating in two shifts.

According to the executives reported “The Phoenix Project” involves adapting technology and GMA process plant, to carry global standards. They also indicated that the production of the new model is in addition to the currently produced vehicles (Classic and Agile) and will start in October 2015.