MercoPress. South Atlantic News Agency
Toyota plan to invest 800m dollars in Argentina and increase production by 50%
Japanese car maker Toyota Motor Corp. plans to invest 800 million dollars to boost production capacity at a factory in the province of Buenos Aires. The plan unveiled by Argentine Industry Minister Debora Giorgi will almost double the size of the factory and allows to increase vehicle output to 140,000 units a year from 92,000 currently. Read full article
Comments
Disclaimer & comment rules'How long before it will be 'nationalised” because it is not putting enough back into RGland coffers?
Sep 20th, 2013 - 09:33 pm - Link - Report abuse 0These are b/s PR announcements, Int'l companies can't move their U$ out of the country and are forced to “invest” in something because they know a forced U$ to Peso conversion is right around the corner.
Sep 20th, 2013 - 10:03 pm - Link - Report abuse 0It's not like Toyota can put it under the mattress like the rest of the country.
TWIMC.....
Sep 20th, 2013 - 10:07 pm - Link - Report abuse 0The Argentinean MERVAL Share-Price Index up 65% since the beginning of 2013.
http://www.ambito.com/noticia.asp?id=707672
If you want a even better return you should invest in the Venezuela index it sup almost 500% this year. http://www.bloomberg.com/quote/IBVC:IND
Sep 20th, 2013 - 10:29 pm - Link - Report abuse 0Bahahahaha
My guess is neither is keeping up with the countries $ depreciation.
Is this a case of 'soon to be cheap labour' in Argentina, building cars for export to more prosperous SA countries ?
Sep 20th, 2013 - 11:10 pm - Link - Report abuse 0Sure looks that way.
Well as the argentine automobile industry sells to the local market under a subsidised offcial dollar it makes sense that the is still car record sales here
Sep 21st, 2013 - 12:37 am - Link - Report abuse 0http://www2.toyota.co.jp/en/news/13/09/0919.html Toyota's official statement says 17 B yen -$170 million dollars.
Sep 21st, 2013 - 01:00 am - Link - Report abuse 0Of course, cars are currency in hyperinflation (see Venezuela).
It's interesting how this administration promoting 'spokesmodel' types to minister positions, though.
Turnip at (7)
Sep 21st, 2013 - 05:28 am - Link - Report abuse 0In all your previous comments about Argentina, you have clearly demonstrated that you are a Turnip….
Now, you mess with mathematics and you demonstrate tenfold that you are a even bigger Turnip…
Toyotahas officially stated on their internet site that they will invest 17 billion ¥en in Argentina....
17 billion ¥en are, at today’s rate, ~1,700 million U$S…..
NOT “170 million” U$S as you wrongly write…..
You “just” forgot a “0”…..
TURNIP!
2 yankee. So you think that Argentina's policies are creating more foreign investment. Sounds like good news.
Sep 21st, 2013 - 05:29 am - Link - Report abuse 0@ Think According to Google converter AND a Wall Street Journal reportee, it is $171, 088,000. We use commas. It is $171 million dollars roughly.
Sep 21st, 2013 - 05:59 am - Link - Report abuse 0@8 Think
Sep 21st, 2013 - 09:27 am - Link - Report abuse 0There are 99 yen to the dollar, let's call it 100 to make it easier for you.
Therefore, 17Bn divided by 100 equals 170M, not 1.7Bn. That would be an exchange rate of 10 Yen to the $. Ayayay didn't forget a zero, you added one!!!
I cannot imagine how sore you must feel. The Maths error was no big deal but you just had to call him a Turnip!! Losing face - isn't that what you guys call it?
Yes, I'm done.
Turnip at (10)
Sep 21st, 2013 - 10:27 am - Link - Report abuse 0You are right……….
17 billion ¥en are indeed ~170 million U$S and NOT 1,700 million U$S as I, incorrectly, wrote at my post (8)…
That will teach me NOT to engage in mathematical calculations at 03:00 am…
Anyhow, as the link below clearly explains, ~200 million U$S will be invested by Toyota into improvement of their Argentinean factory, whilstother ~600 million U$S will be invested into other development & productive activities…
http://www.megautos.com/Millonaria-inversion-de-Toyota-en-Argentina-u$s-800-MM-4105.html
……..My opinion about the Turnipidity of all your previous comments about Argentina still stands on firm ground though….
El Think, Chubut, Argentina.
In some ways, it’s nice to see investment in any country,
Sep 21st, 2013 - 10:34 am - Link - Report abuse 0As long as all concern gets a piece of the cake,
Let’s hope the benefits of this investment are felt and enjoyed by the new jobs it may create, and the people
Who will receive them..
Just a driving thought..
.
Anyway, having now shown that argie education on mathermatics is at the same standard as its education on history, a question remains. Where's the other US$630 million? And Clarin also says US$800 million.
Sep 21st, 2013 - 11:24 am - Link - Report abuse 0Good news, Argentina! Congratulations!
Sep 21st, 2013 - 12:43 pm - Link - Report abuse 0USD 170.7 M is probably what Toyota had sitting in the capital account doing nothing because they cannot get it out.
Sep 21st, 2013 - 01:31 pm - Link - Report abuse 0Better to “invest” it in the existing facilities than leave it sitting there for TMBOA to “liberate” like she will be doing to private citizens money very shortly.
Perhaps when they can manage to repatriate their money Toyota can insist that the Lunatic La Think must be used to calculate the value, being such a wizard with the pencil.
How funny was his little balls up, ha, ha, ha? “Hoisted by his own petard” jumps instantly to mind. What a SWEDE (the vegetable sort of course).
Chris, That is exactly what is going on. My guess is they announce it so it is not confiscated then slow walk the “investment” and hope they can x-fer it out of there before they actually have to do anything.
Sep 21st, 2013 - 01:48 pm - Link - Report abuse 0Who knows what's going to happen after Oct when she doesn't need to show growth or the low exchange/inflation rate.
Swede? Vegetable? I can't learn. hahahaha
Sep 21st, 2013 - 02:38 pm - Link - Report abuse 0@15 Always knew Brazilians were short of brain cells. Seems like the official maximum is 1.
Sep 21st, 2013 - 03:28 pm - Link - Report abuse 0@18 Of course not. You're a thick, Brazilian twat without the brains of a turnip. Do the world a favour. Go down to the seashore. Face the horizon. Walk forward for two hours. Do NOT reduce your speed to less than 2 miles per hour.
@ 19 Comedian
Sep 21st, 2013 - 03:58 pm - Link - Report abuse 0Do the world a favor: go to Afeghanistán!
More great news for Argentina - a world class company like Toyota investing will increase confidence in the countries economy - this with the immense potential of Vaca Muerta will put Argentina back on the map of international investment and that's very positive for the country and it's people - good luck
Sep 22nd, 2013 - 12:29 pm - Link - Report abuse 021. Only if they've been living under a rock for the last decade. No one will invest in Argentina until the Ks are gone.
Sep 22nd, 2013 - 12:46 pm - Link - Report abuse 0@20 Sorry, dumbo. Don't recognise the name. Have you tried getting an education? Incidentally, British forces go to anywhere that needs sorting out. They fight and, regrettably, some of them die. Argie “forces” only go where it is “safe”. In Afghanistan, 54 countries have contributed resources and troops. In an attempt to defeat the Taliban, destroy the influence of Al Qaeda, and safeguard the lives of their citizens. Argieland isn't one of them. Argieland prefers to sit down with murderers in a “truth commission” and mouth platitudes. Because it's cowardly. Use 66,000 troops to attack and occupy some islands with a population of less than 2,000. Send troops into an insurgency situation with the support of some of the most capable troops in the world? No chance!
Sep 22nd, 2013 - 01:02 pm - Link - Report abuse 0@21 It's not “great news for Argentina”. We don't even have certainty about how much Toyota is actually investing. And it's not investment in argieland. It's investment in Toyota. Vaca Muerta is somewhere that argieland doesn't have the capability or expertise to exploit. No “international” investor is going there unless they can get their profits out into the real world. How argies live in la-la land!
@23 Comedian
Sep 22nd, 2013 - 03:37 pm - Link - Report abuse 0In terms of education, sincerely, you are the most rude of this site. I wonder what the future of England with people like you. Mister Been to lose to you.
23 - you talk nonsense - international companies are moving 35 new drilling Rigs into Argentina from brazil and colombia and is the biggest growth market in all of Latin America - rather than let your bigoted opinions become words on this forum I suggest you learn up about intentional investment so you can understand what it means next time - by the way are you gay? Was just wondering about that name you give yourself? Conqueror is a famous gay from London - could it be you? Kisses and hugs Xxx
Sep 22nd, 2013 - 05:58 pm - Link - Report abuse 025 El Diego
Sep 22nd, 2013 - 06:10 pm - Link - Report abuse 0Please provide a link to the site that claims 35 rigs are coming.
Who, unless he / she is gay, would know that Conqueror is a famous gay from London? And just why does is matter, are you a homophobe?
26 - do a google search for rig counts in Latin America (baker hughes is one)and you will see the growth and then monitor it for each month going forward and watch Argentina continue to grow - do the same for Colombia and Brazil and you will see the decline - guess where the rigs are going? these are American owned rigs mainly
Sep 22nd, 2013 - 06:22 pm - Link - Report abuse 0Actually I went to see a drag show starring Conqueror - he is really cute
27 “L” Dee A goh
Sep 22nd, 2013 - 07:25 pm - Link - Report abuse 0Why would you ask us to do google searches across the net to research and compile evidence to support your statement?
In other words, why would we do all the work to try to prove your vague point?
What are you trying to say, exactly?
If you have this information, you must have got it from somewhere, or you made it up.
Please provide the link to your source with this specific information.
Diego, There are +/- 75 rigs in Argentina. That is pitiful and nothing to be proud of or exited about. It's growing about 1 per month, at that rate you'll be completely out of oil/gas by 2015.
Sep 22nd, 2013 - 08:51 pm - Link - Report abuse 0The Ks destroyed the O/G business and it won't recover until they have been gone a decade.
Good luck paying for O/G by growing Soy.
27 El Diego
Sep 22nd, 2013 - 09:22 pm - Link - Report abuse 0Now you have failed to provide your evidence, do you understand the technical differences between standard drilling and fracking, especially the horizontal strata that you have in The Dark Country.
So far, NOBODY in the world, including Chevron, has ever successfully extracted oil or gas from these strata. So how long do you think it will take YPF / Chevron to manage it when you do NOT have the correct gear to do it.
How do I know that? The CEO of YPF announced it as “one of the challenges” YPF was facing!
Even if (and that’s a BIG if) they manage to ‘crack’ it (see what I did there) it will be years before enough wells are online to produce the oil / gas in the quantities required.
One American company signed a contract to supply 25 extra rigs and the investment is going in despite some of the negative comments from the uninformed on this forum - YPF is expanding aggressively and this is great news for Argentina - when was the last time any of you lot were in Neuquen?
Sep 22nd, 2013 - 11:51 pm - Link - Report abuse 0Talk about missing the boat - I know where I am investing for growth
@27
Sep 22nd, 2013 - 11:52 pm - Link - Report abuse 0It is not just getting the rigs there you have to have the materials. 1 well for fracking takes approx 2 to 3 million gallons of water,( 98-99.5% is water and sand ( sand to keep the fractures open to release the oil and gas)the rest 0.5-2% are chemicals. All the sand and chemicals will have to be imported, that means billions of US$, obviously paid in advance.Oh and literally thousands of wells ( I am not kidding, it is extremely expensive )
El Dufus, Which company is contracting and which is supplying these mythical rigs?
Sep 23rd, 2013 - 12:16 am - Link - Report abuse 0BTW there are 185 active rigs in North Dakota alone! 25 will not be able to help you very much.
You do realize you are about to run out of oil/gas and have no U$ to import any right? The Ks put Argentina at least a decade behind where they need to be to keep production up to use.
10 yrs of using all the SOY revenue + a lot more to pay just for fuel
Great planning.
TWIMC
Sep 23rd, 2013 - 06:28 am - Link - Report abuse 0Fresh and real (good) news about YPF (23/09/2013); not “Doomsday Theories“ from Anglo Turnips……:
”YPF reached “pre-expropiatión”price: Won 110% since its minimum.”
http://www.ambito.com/diario/noticia.asp?id=708054
Yet more evidence if it was needed that the negative anti Argentina commentators on this site simply don't know what they are talking about - some of them don't even know how to count drilling rigs coming into the country yet profess to give advice on macro economics - talk about group think and bounded rationality!
Sep 23rd, 2013 - 10:08 am - Link - Report abuse 0@25 Then you won't be needing all that energy you're importing, will you? I gather there are shipments organised well into next year. Paid for them, have you? With that money you don't have? Why don't you pay your debts?
Sep 23rd, 2013 - 12:51 pm - Link - Report abuse 0Where do I get the name from? That's easy. It's in homage and memory to one of the most glorious vessels in the Royal Navy. HMS Conqueror (S48). In 1982, it took part in one of the most notable naval actions in the history of the world. Acting totally alone, it sank one rustbucket and defeated an entire fleet. Not only that but it did so using 55-year old torpedoes. British workmanship. Unfortunately, no record was kept of the date and time that the “fleet” got into port. However, it is a reasonable assumption that it was travelling at the maximum possible speed or HMS Conqueror could have caught up and sunk some more. It was only 6 knots slower than the escorting destroyers!
@31 Wow! 25 extra rigs. In recent news, Chevron says it plans to drill 1,500 wells in the Vaca Muerta shale field by 2017. That's somewhere between 375 and 500 wells every year. Or, to put it another way, more than 1 well a day every day!
@34 Read through the article you linked to and I can see a problem in the first paragraph “the good reception that took in investors the return of oil to international markets with a bond in dollars to five years to be placed on Thursday of this week.” See the problems? First there's “took in investors”. Did that during the “debt restructuring”, didn't you? Then there's “a bond”. No doubt another bond that will shortly only be worth 30% of its face value. And finally there's “to be placed on Thursday of this week”. No bond yet then? Bit previous boosting values before the bond is placed, isn't it?
They should wait until it is once again safe to invest. If they want a return on investment and have the money used for its intended purpose.
Sep 23rd, 2013 - 12:54 pm - Link - Report abuse 0My vote is going toward creating a more business friendly environment in Argentina. Hopefully, many people have come to their senses after learning that their interests will never be represented by the K's.
35 El Diego
Sep 23rd, 2013 - 01:13 pm - Link - Report abuse 0Standard drilling rigs cannot be used for fracking: standard fracking drill rigs MAY (but probably not) be used for the sort of strata that these fields comprise of but NOT ONE productive “well” has been produced, despite all the hullabaloo from the likes of you.
NOW, when you have TRUTHFUL knowledge of a horizontal tight seam “well” producing oil / gas I will listen to you.
Until then, please cut the bullshit.
34. It would be really something if the price was keeping up with the increase in bread or gasp tomatoes.
Sep 23rd, 2013 - 01:37 pm - Link - Report abuse 0Hahahaha
35. El Dufus, http://www.bnamericas.com/news/oilandgas/latin-america-rig-count-up-in-december As I said you have 75 and that is not NEAR enough to BA warm after you run out in 2015.
Wow! How beautiful! Argentina is our partner in the development of these little things!
Sep 23rd, 2013 - 02:50 pm - Link - Report abuse 0https://www.youtube.com/watch?v=bIHb0r8OmwA
40. Argentina hasn't made a plane in 50yrs and can't keep their current fleet from crashing are you sure they're the best people to help you?
Sep 23rd, 2013 - 03:14 pm - Link - Report abuse 0This vehicle is almost ready. It is an evolution of human engineering.
Sep 23rd, 2013 - 03:26 pm - Link - Report abuse 0https://www.youtube.com/watch?v=k3ZOdUFsjFY
@41
Argentina may have its problems, as we all have, but it also has excellent engineers.
42. Absolutely, you can see that brilliance in all the stuff they market/sell worldwide!
Sep 23rd, 2013 - 03:31 pm - Link - Report abuse 0Right up there with German Engineering I hear.
“Made in Argentina!”
Do they even put that slogan on anything?
I don't think Rg will even buy it then
@ 43
Sep 23rd, 2013 - 03:40 pm - Link - Report abuse 0Remember, our development and production engineering is independent from consumption of the U.S. and Europe. After all, for you, we only have ore and soybeans.
If it was any good wouldn't you think the rest of the world would want to buy it?
Sep 23rd, 2013 - 03:47 pm - Link - Report abuse 0BTW stadium roofs with proper engineering don't collapse. Think you'll have it ready by the World Cup? I hear not...rut ro.
That does not matter. What matters is that where is human, has error. I do not know if it rains in your land, but here rains a lot. About the World Cup and Olympic Games, i do not care. I do not live of marketing.
Sep 23rd, 2013 - 03:59 pm - Link - Report abuse 042 Brasileiro
Sep 23rd, 2013 - 04:03 pm - Link - Report abuse 0Try a REAL video instead of CGG.
https://www.youtube.com/watch?v=6K_rzuSuqIg
This is NASA (not the NSA!!! ha, ha) in 2004, not a CGG in 2013 and not a clue IF anything made as a scramjet in Brazil will fly.
Yeah, the “engineers” in The Dark Country are almost as good as those you have in Brazil!
Now just remind us all what has Brazil actually achieved in engineering?
COPIED a ship to air missile and done a test launch on an existing Navy ship: YES.
Can't think of anything else, but I am really glad my automatic VW was made in Brazil and not in the arsehole of the south.
You are the Toby of Brazil.
Sep 23rd, 2013 - 04:05 pm - Link - Report abuse 0You no nothing of other places and your explanations are as nationalistic as they are irrational and incorrect.
@ 47 ChrisR
Sep 23rd, 2013 - 04:15 pm - Link - Report abuse 0Nice video. U.S. have a good technology, debt and poverty too. Spies, further.
What no poverty in Brazil? Funny I saw a lot of favalas last time I was there. Everyone get moved out yet or do the drug lords still control most of them?
Sep 23rd, 2013 - 04:22 pm - Link - Report abuse 0Brazilians are too stupid and poor to ever be taken seriously. At some point they'll figure that out from themselves though. Well maybe not the Rgs never have.
Nowadays, our large slums decrease. Their little slums increase.
Sep 23rd, 2013 - 04:27 pm - Link - Report abuse 0and your great great great grandchildren will be saying the same thing.
Sep 23rd, 2013 - 05:13 pm - Link - Report abuse 0@ 49 Brasileiro
Sep 23rd, 2013 - 07:55 pm - Link - Report abuse 0Well, you had better hope that Boeing come up with the goods and manage market and sell the 20 tonne KC-390 for you!
Did you know that is what is going on? Brazil Embraer joining up with the Americans! Ha, Ha, Ha.
And a good job too because although it’s a nice little mid-size lifter it’s up against Lockheed when Embraer wants to sell some to the American military. I wonder how that will go down in the Senate when they realise IF they buy these they are putting Americans out of work. Do you really think this is going to happen?
They didn’t build the first engine until June 2013 but at least it’s an ultra modern Rolls Royce / Pratt & Witney IAE joint venture high bypass fan unit and is a uprated version of the engine that powers the Airbus A320 range.
AND, I have no idea where you think your mates in The Dark Country are involved with this but I have some news: THEY ARE NOT! So that’s one cluster-fuck-up less than can happen.
I do hope that all the years Embraer shied away from “big” planes in case it finished the company does not happen now.
Lockheed Martin! he global defense market, these jets (Hercules), belongs to Lockheed Martin. Embraer does not come to compete in large civilian jets. Then will support Boeing. Agreement stated!
Sep 23rd, 2013 - 09:59 pm - Link - Report abuse 0@ 54 Brasiliero
Sep 24th, 2013 - 07:10 pm - Link - Report abuse 0I have NO idea what that post meant.
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