The investment will enable the business to increase the production capacity of its Friboi unit by 50%.
JBS said it hoped the increased capacity would help the business to serve its main export markets, such as Europe, the Middle East, China and Chile, as well as the domestic market.
As part of the expansion, the business plans to modernise equipment and implement a project that allows a better flow to increase production. Due to the expansion, JBS will start a second shift of work in the unit and, during the second half, will open 700 new jobs in the city.
"The increase in the production volume of the Ituiutaba plant makes it even more strategic in meeting all of our export certifications. In addition, the new jobs will make us one of the main employers in the region, which is a source of great pride,” said Renato Costa, president of Friboi.
In May, JBS USA announced it was to invest US$95m in its Grand Island beef production facility in Nebraska. In the same month, it outlined sustainability progress made over the past year.