CAJAMAR, Brazil, June 5 (Reuters) - Latin American

e-commerce giant MercadoLibre ( MELI ) expects its investments

in Brazil this year to exceed the 23 billion reais ($4.35

billion) initially planned, local marketplace head Fernando

Yunes told reporters on Wednesday.

Yunes said the firm now forecasts to hire 11,000 people in

Brazil this year, up from a previous estimate of 6,500. He added

that the revised capital expenditure plan cannot be fully

disclosed at the moment as it is still in the works.

($1 = 5.2849 reais)