CVRD invested US$2bn in 2003

Brazilian mining and metals giant CVRD (NYSE: RIO) will finish 2003 having invested US$2bn, Roger Agnelli, the company's president was quoted as saying by Jornal do Commercio newspaper. "From January to September, US$1.5bn was invested and we are going to finish the year with US$2bn in investments, which will be maintained in 2004 and 2005 in our project of globalization with a greater presence in the world market," Agnelli said. Rio de Janeiro-based CVRD is the world's largest producer and exporter of iron ore.