Brazil: Espírito Santo state expects to do more business with China

24 November 2008

Vitória, Brazil, 24 Oct – A Brazil-China Chamber of Commerce in the Brazilian state of Espírito Santo expects a substantial rise in business with China over the next few months due to the establishment of a steelmaking project in the city of Anchieta in a joint project of China’s Baosteel and Brazil’s Vale.

Carlos Eiras, teh chairman of the Brazil-China Chamber in Espírito Santo said that the Brazilain state expected, “business to increase, with the export of products such as coffee, chocolate, sugar cane rum, pork meat and rocks.”

“Trade between Brazil and china rose 65 percent between January and October of this year against the same period of 2007 and projections point to growth continuing,” Eira said.

He added that there was enormous potential to attract Chinese investment to the area of infrastructures in Espírito Santo and noted that, “the Bank of China has US$400 billion to invest outside of China.”

Setting up the Baosteel CSV steelmaking plant represents an initial investment of US$5 billion and is expected to create 3,000 direct and 15,000 indirect jobs.

The state government set up the Anchieta hub, where the facility is expected to be built, not only for this project, but also for a Petrobras gas processing plant, a fourth plant for Samarco Mineração, a railway line and a deep water port.

The government is currently looking into the environmental impact study for the Anchieta hub projects and by the end of the year a portfolio on the subject is due to be concluded, which will make it possible to grant environmental licenses for each of the projects. (macauhub)

MACAUHUB FRENCH