Chinese group invests in health sector in Ceará, Brazil

15 September 2017

The China Meheco Corporation group plans to invest US$4 billion funded by the China Development Bank, in Ceará under a three-way memorandum of understanding signed with the government of that Brazilian state, the Brazilian press reported.


The Chinese investment will target the health sector, with the construction of public hospitals as well as the modernisation of existing ones and the purchase of hospital equipment and medicines.


The Brazilian press reported that only one memorandum of understanding had been signed, and a formal contract will be the next step in the negotiation process that led Ceará state governor, Camilo Santana, to travel to China this weekend. for a meeting with representatives of the China Development Bank.


The China Meheco Group Co. Ltd. is a state group founded in 1984 listed on the Shanghai Stock Exchange and controlled by SGPS China General Technology (Group) Holding Co., Ltd., which operates in the area of ​​health care and development of medicines and other pharmaceutical products.


Roberto Jiao, project manager at the China Meheco Group, told Brazilian website G1 that the group intends to invest in other Brazilian states this year, but said Ceará was the first to sign a memorandum of understanding.


Jiao said Brazil is the first major country in South America to begin investment negotiations with the Chinese state group, which already operates in countries such as Cuba, Venezuela and Ecuador. (macauhub)