CanadaWire reports Innovative Composites International,, Inc., of Toronto has inked a deal to supply Brazil S.A. with $160 million worth of EcoScape modular homes over the next three years. In the agreement with Brazilian contractor Millenium Brasil Limitada and consultant Green Intelligence Corporation, the large project homes will be shipped from ICI’s South Carolina plant. After three years the company will build a production facility in Brazil, providing there is demand for at least 10,000,000 square feet of housing annually. “EcoScapeTM modular housing has all the attributes we were looking to service large scale demand in Brazil quickly,” said Gustavo Cortês, legal representative of Greenco in Brazil. “Its cost, speed of assembly, energy efficiency and versatility of appearance make it a great choice for the Brazilian market. We look forward to a long term relationship with ICI and applaud their long term commitment to establishing a manufacturing facility in Brazil in partnership with us.” ICI President and CEO Terry Ball said, “ICI continues to establish EcoScapeTM as the modular home system of choice for large scale low cost housing projects worldwide,” There is strong demand in the Brazilian housing market and we believe we have found the right partners to take advantage of this opportunity. ICI continues to win contracts and grow our project pipeline as we get closer to the start-up of the SC facility in the first quarter of next year.” With one of the world’s most robust economies, Brazil plans to invest US$800 billion in infrastructure, including US$72 billion to build two million new modular homes for low-income families before the 2014 FIFA World Cup. The Summer Olympics are coming in 2016.
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