The China Communications Construction Company (CCCC) intends to expand its presence in Brazil, the largest market in Latin America, by carrying out projects from scratch, Chang Yunbo, chief executive of CCCC South America, told the Brazilian press recently.
In 2016, the group acquired a stake of 80% in Brazilian company Concremat – Soluções Integradas de Engenharia and signed a contract to buy 51% of a new port in São Luís, Maranhão state, to be built under a partnership with WPR, a subsidiary of Brazilian group WTorre.
The construction of this project, due to begin in the second half of this year, will cost an estimated 1.7 billion reais (US$545 million) and will take three years to complete.
Among the projects being analysed by the CCCC group are some related to deepening access channels to large Brazilian seaports, in particular those that are no longer able to accept ships or that cannot receive ships of greater draft due to the depth of their access channels.
The chief executive of CCCC South America said that the group was also interested in railways but clarified that this interest depends on the business model that will be adopted.
Chang Yunbo also said that the fact that Concremat is not a construction company does not mean that the group wants immediately to buy a construction company, and the current strategy is to hire the services of construction companies to carry out the contracted projects. (macauhub)