German automaker BMW to build plant in southern Brazil
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Officials say German automaker BMW AG will build a factory in southern Brazil.
Santa Catarina state Gov. Raimundo Colombo says BMW will invest approximately 1 billion reals ($500 million) to build the plant.
Colombo tells the state government's website he will meet with President Dilma Rousseff on Monday "to explain details of the investment."
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The web site says BMW will produce medium-sized sedans, the first of which will off the assembly line in about two years.