The Chinese government intends to spend as much as US$5 billion upgrading Brazil’s system of ports and railways to improve the speed at which exports, including base metals and iron ore, reach Chinese markets.
One project being examined involves a railway linking Brazil with a port on the Pacific Ocean.
China is Brazil’s third-largest export market: in the first quarter, exports leapt 51% over the year-earlier period.
A group representing the investment firm China International Trust & Investment visited Brazil recently.
Meanwhile, Chinese steelmaker Baosteel is considering building a plant in Brazil in a partnership with Companhia Vale do Rio Doce, the world’s largest iron miner. The plant would cost US$2.5 billion.
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