Brazil, China firms team up to build port terminal
China Communications and Construction Company International and Brazilian engineering group WTorre will jointly building a multi-cargo port terminal in São Luis, the capital of northern Brazil's Maranhão state.
The two signed the agreement during the G20 summit in China (pictured). The terminal is budgeted at 1.5bn reais (US$457mn), according to a Brazilian federal government release.
During the summit, the Chinese firm also announced a partnership with Rio de Janeiro investment bank Banco Modal, which will provide financing for the company's infrastructure investment plan in Brazil.
Meanwhile, another deal signed at the G20 summit was China's State Grid buying the 23% stake that Brazilian engineering company Camargo Corrêa has in CPFL Energia for US$1.83bn.
An agreement was also signed by China's CBsteel and Maranhão state to build a US$3bn steel plant in the city of Bacabeira, and China's Fosun group agreed to acquire 50.1% of Brazilian investment fund Rio Bravo, the release said without disclosing the amount involved.
In photo: Brazil's President Michel Temer with Chinese President Xi Jinping at the summit in Hangzhou
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News in: Infrastructure (Brazil)
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