Chinese entrepreneurs in Brazil to analyse transoceanic railway project

11 June 2015

A letter of intent for construction of the Transoceanic railway was signed this week by the governors of the Brazilian states of Mato Grosso, Pedro Taques, Acre, Tiao Viana, and Rondônia, Confúcio Moura, the Brazilian press reported.

The signing ceremony of the memorandum of understanding was attended by the Chinese ambassador to Brazil, Li Jinzhang and a group of 23 Chinese businesspeople on a tour through the cities that will benefit from the construction of the Transoceanic railway, connecting the Atlantic and Pacific oceans.

The protocol is a result of the strategic partnership between Brazil and China and the 35 agreements signed by President Dilma Rousseff and the Chinese Prime Minister Li Keqiang on 19 May last, one of which provides for a feasibility study of construction of the railway which, according to the project, will start in Rio de Janeiro, go through Minas Gerais, Goiás, Mato Grosso, Rondônia, Acre and will end in Peru.

Experts have said the necessary investment may reach US$30 billion, and in Brazil the main beneficiaries would be farmers in the western region of the state of Mato Grosso, which will have a shorter route to export their products, mainly soybeans.

In 2014, China imported products from Mato Grosso worth US$4.9 billion, of which US$4.6 billion were soy, according to the Brazilian Ministry of Development, Industry and Foreign Trade. (macauhub/BR/NC)