Minas Gerais industrialists prepare projects to be submitted to the Brazil/China Fund

25 January 2017

The Federation of Minas Gerais Industries (FIEMG) has started putting together a portfolio of projects that may be financed by the Brazil/China Fund, reported Brazilian newspaper Diário do Comércio.

Prepared in partnership with the state government, through the Integrated Development Institute of Minas Gerais (Indi) and Minas Gerais Development Bank (BDMG), the portfolio includes the federal highway BR-381, which runs from the city of São Mateus, in the state of Espírito Santo to the city of São Paulo, the Vale do Aço Engineering Centre and the Synergy technology hub in Contagem.

The BR-381 is 1,181 kilometres long, of which 95 are in São Paulo, 950 in Minas Gerais and 136 in Espirito Santo.

The Fund, signed in October 2016, is intended to finance infrastructure projects in the Brazilian economy, having an initial allocation of US$20 billion, with Chinese participation of US$15 billion and US$5 billion from Brazil.

The secretary of Foreign Affairs of the Ministry of Planning, Development and Management, Jorge Arbache, met last week with the head of FIEMG, Marcos Mandacaru, who stressed the State had a set of projects that fit the objectives of the Fund.

At the time the secretary’s visit, projects were presented including the Engineering Centre and the New 381 (both in Vale do Aço) and the Synergy technological hub in Contagem, in the metropolitan region of Belo Horizonte (RMBH).

The Brazil/China Fund can finance sectors such as logistics projects, energy and mineral resources, advanced technology, agriculture, agro-industry and agricultural storage, manufacturing and digital services, among others, in Brazil. (macauhub)