Home > Overseas Investment News > Chinese investment backs expansion of Brazilian port
Chinese investment backs expansion of Brazilian port
China is one of Brazil's largest investors, and one area that attracts the most investment is infrastructure.  
China's hunger for commodities – like grain from Brazil – seems endless, shipping them halfway around the globe is a task that demands infrastructure and investment. 
Itaqui is one of the busiest ports in Brazil, and as demand grows, new investment is needed. 
A new port is now in initial stages of construction in Sao Luis – the capital of the state of Maranhao. It's an investment of almost 500 million dollars from a consortium led by the Chinese Communication Construction Company (CCCC). The plan is to have it operational in the next three years. The port will have a bridge that runs one kilometer into the sea, so three ships at a time will have a depth of at least 20 meters to dock. The port's CEO says this is a prime location for China's logistics needs. 
"This is the northern Arch of Brazil. From here, you are very close to the Panama Canal; you are very close to the east coast of the United States, close to Europe. And via the Panama Canal, also close to reach China,” said Cesar Gazoni, CEO of Port of Sao Luis. 
The port of Sao Luis is the most advanced Chinese infrastructure investment planned for Brazil's northeast – the country's poorest region. Carlos Brandao, the vice-governor of the state of Maranhao, said the region is eager for more Chinese investment. 
"The Chinese have what we need," Brandao said. "They have resources, technology and are interested in expanding their business around the world. So, I think this is good for everybody. For us, this is important, as it creates jobs, increases wages and improves people's quality of life.” 
Felipe De Holanda, an economics professor at the Federal University of Maranhao, said, "This project allows the Chinese to improve their supply of raw materials. They are our biggest buyers of iron ore, soy and animal protein. And also puts them close to big consumer markets.” 
In the Port of Sao Luis, construction work is picking up speed, and in a few years, ships will be docking and taking Brazilian products to China and the rest of the world while bringing in the imports the country needs. 

Source: CGTN

Please contact us in case of Copyright Infringement of the photo sourced from the internet, we will remove it within 24 hours.
Relevant Information