Grupo Costa to invest $300 million in Paraguay
Spanish pork producer plans expansion to meet rising pig demand
Spanish pork producer Grupo Costa will invest $300 million in Paraguay, marking the company's first major investment outside its home country, Reuters reported, citing Paraguayan President Santiago Pena on Thursday.
The investment aims to help meet an annual demand of 1 million pigs, Pena said.
"This confirms that Paraguay is prepared to receive offers from all over the world, because investors trust in the serious and predictable Paraguay that we are building," Pena said in a social media post.
The president added that the deal was a "clear signal" to agricultural producers in the department of Itapua and across the country to increase production.