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Eike Batista and Mário Garnero return to the business scene with new projects, attracting national and international investors
Entrepreneurs Eike Batista and Mário Garnero, two well-known figures in the Brazilian business scene, are joining forces in a new strategic partnership. The objective of the alliance is to invest in logistics, infrastructure and agribusiness projects. The information was released by the newspaper O Estado de S. Paulo, highlighting the relevance of this union, since both played prominent roles in the national economy between the 1970s and 2010s, with trajectories marked by great successes, but also by controversies, according to the website Revista Oeste.
Eike Batista, former controller of the EBX group, and Mário Garnero, founder of Brasilinvest, recently announced the agreement, signed on August 27, during a lunch of the Protagonistas do Brasil group, held in São Paulo. The event was promoted by the Master Mind & Forum of the Americas club, which has Álvaro Garnero, Mário's son, as one of its members.
The union of entrepreneurs caught the attention of experts, considering that both have already faced legal obstacles in their careers. Batista was arrested in 2017, amidst the Lava Jato Operation investigations, while Garnero had a conviction for financial fraud overturned by the Supreme Federal Court (STF). Now, they prepare to return to the business scene with great ambitions.
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New projects in Porto do Açu and agribusiness
The partnership between Eike Batista and Mário Garnero has, to date, resulted in three major projects. Two of them are related to Porto do Açu, in the north of the state of Rio de Janeiro, infrastructure designed by Batista and sold in 2013. The first project foresees the construction of a terminal with tanks for the storage of oil and grains, while the second involves the development of a smart city in the region.
The third project, which promises major impacts on agribusiness, is the development of a new variety of sugarcane, called “supercane”. According to Batista, this sugarcane triples ethanol production per hectare and significantly increases bagasse generation., raw material used in the production of bioplastics, paper and cellulose.
“The 'supercane' offers great economic potential. Sugarcane biomass, when burned, generates about US$20 per ton. When used in the production of plant-based plastics, the cost rises to US$1 per ton,” explained Batista. He also highlighted that this variety of sugarcane does not need to be replaced every five years, as is currently the case, but rather every ten years, which represents a substantial saving for the sector.
International investors and business expansion
According to Mário Garnero, the origin of this new business partnership started with the interest of investors from Dubai, who sought out Brasilinvest in search of opportunities in Brazil. “Investors from Dubai showed interest mainly in theoil sector and other segments, such as lubricants. This opened doors for our current partnership,” said Garnero.
The businessmen have already signed an agreement with an Arab company, whose name will be revealed in October, when investors will land in Brazil to formalize the contract related to the construction of the tanks at the Port of Açu. The initial investment for this project is estimated at R$700 million, with expansion expected to attract even more international capital.
Brasilinvest, founded by Garnero, has a history of partnerships with Arab businessmen and royal families, such as the alliances already signed with Enertech, from Kuwait, and Enoc, from Abu Dhabi. This expertise in dealing with international investors strengthens the chances of success of new projects announced in partnership with Batista.
Return to the business scene with expectations
The alliance between Eike Batista and Mário Garnero marks the return of two of Brazil's most iconic businessmen to the big business scene. Despite their controversial pasts, both are willing to rewrite their stories in the corporate world, betting on strategic sectors for the Brazilian economy, such as logistics and agribusiness.
with the promise of attract foreign capital and develop innovative solutions, such as the “supercane” and the smart city in Porto do Açu, Batista and Garnero are looking towards a promising future. The expectation is that These projects generate jobs, boost the economy and put Brazil in the spotlight on the international stage., especially in the field of sustainability and technological innovation.
