LiuGong Machinery will invest R$120 million in Brazil over three years, the company said during the opening ceremony for its first factory in the country.
The plant is in Mogi Guaçu, a city located 180 km from São Paulo.
The project is covered by Investe São Paulo, a promotion agency for investments that are linked to the Department of Economic Development, Science, Technology and Innovation for the State of São Paulo. LiuGong expects to produce 1,500 units per year at the new facility, including wheel loaders and excavators. The company plans to hire 80 percent of its employees locally.
According to Márcio França, the deputy governor and secretary of Economic Development, Science, Technology and Innovation, the project in Mogi Guaçu is the result of the state government’s actions to stimulate the economy throughout the entire state.