UPDATE 2-Brazil's Batista forecasts big growth for EBX Group

Sat Aug 27, 2011 8:00pm GMT

* EBX EBITDA to reach $30 bln by 2020 - Batista

* Batista wants IPO for Colombia coal company in 2012

* In talks with investors to raise capex budget (Adds quote from Batista, details)

CAMPOS DO JORDAO, Brazil, Aug 27 (Reuters) - Brazil's richest person, Eike Batista, said on Saturday he expected to grow even wealthier with the rapid earnings growth of his EBX conglomerate of mining, oil, energy and logistics companies.

EBX will generate annual operations earnings of $15 billion by the end of 2015, Batista, its controlling shareholder, said at a derivatives seminar in this resort town outside of Sao Paulo.

He said earnings before interest, tax, depreciation and amortization -- known as EBITDA -- would reach $30 billion at the end of the decade. Most of EBX's companies are not yet operational.

"I don't create wealth on a quarterly basis. To me that's blah, blah, blah," said Batista, a virtual unknown a decade ago whom Forbes ranks as the world's eighth-richest person at about $30 billion. "Good projects have long-term vision. That's what I aim at."

Batista said he plans to take his Colombian coal and gold mining assets public through first-time share offers. He plans to hold an IPO for the coal company CCX on the Bogota and Sao Paulo stock exchanges in 2012, where he expects to raise $4 billion to $5 billion. He gave fewer details about the gold company's IPO.

Upbeat on the prospects for commodities prices in the medium term, Batista said he has been in formal discussions with Chinese investors in EBX trying to convince them to agree to raise EBX's capital expenditures budget through 2020 to $50 billion from the current $40 billion.   Continued...

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