Tycoon Slim targets Latin American poverty

By Chris Aspin

MEXICO CITY (Reuters) - His business reputation and fortune made, Mexican billionaire Carlos Slim now wants to fight poverty, illiteracy and shabby health care in Latin America and lead a multibillion-dollar effort to improve infrastructure.

Slim, the world's third-richest tycoon with an estimated wealth of $30 billion, told Reuters in an interview his construction firms plan to build roads, hydroelectric dams, oil refineries, schools and hospitals in the region.

Alongside the profit-making infrastructure development, Slim also will use his foundations to hand out $4 billion in donations and scholarships to boost health and education.

"My idea is this company that pushes the development of Latin America through the development of human capital and structural investment," Slim said on Friday at the start of the Reuters Latin American Investment Summit.

Other speakers at the summit this week include top executives of Mexico's retail giant Walmex (WALMEXV.MX: Quote, Profile, Research, Stock Buzz), state-owned oil monopoly Pemex, Brazil's state oil giant Petrobras (PETR4.SA: Quote, Profile, Research, Stock Buzz) (PBR.N: Quote, Profile, Research, Stock Buzz) and mining behemoth Companhia Vale do Rio Doce (RIO.N: Quote, Profile, Research, Stock Buzz) .

Slim, 66, has stepped down from the day-to-day running of his telecoms-to-retail empire and is concentrating for the next five years on a plan for Latin America, seen as half looking for new business opportunities, half philanthropic.

"What we need is investment, education, growth and jobs," Slim said, sipping Diet Coke throughout a two-hour interview at Reuters' Mexico City offices. "What makes opportunities more equal in the world of today, more than anything else, are good nutrition, health and education."

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