Billionaire Eurnekian Investing $1.2 Billion in Chip Plant
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Argentine businessman Eduardo Eurnekian is investing $1.2 billion in a chip plant south of Buenos Aires to tap a growing market in Latin America for credit cards, mobile phones and electronic identification.
The manufacturer, known as Unitec Blue, began production in February after an initial investment of $300 million with an output capacity of 1.2 billion chips a year, which will double by the end of 2016, according to its president Matias Gainza Eurnekian, Eduardo Eurnekian’s nephew.