Fresh Del Monte is set to invest up to BRL10m (US$5.1m, €3.66m) in expanding its banana production operations in the north-eastern state of Ceará, following the impact of last year's flooding on plantations in the Rio Grande do Norte region that cost an estimated US$50m.
According to local press reports in the country, the US-based group will put in place around 255ha of irrigated banana plantations in Chapado do Ceará, generating 300 jobs in the process.
'We had an excellent meeting with the governor last Friday and will continue to maintain the partnership between Del Monte and the State government,' the group's Newton Assuncao told Diário do Nordeste.
Floods in Rio Grande do Norte during 2008 destroyed seven of Del Monte's 12 banana farms in the state, cutting exports by 50 per cent.
Fresh Del Monte president and chief operating officer Hani El-Naffy told Fruitnet.com last year that the floods in Rio Grande do Norte had had a 'significant impact' on banana operations, but insisted that while several different options were being explored, the group would not be pulling out of the country and remained committed to Brazil.
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