Chinese companies have confirmed four investment projects in Brazil in the amount of US$3.183 billion in August and September and announced seven more projects worth US$6.323 billion, said the Brazilian Ministry of Planning, Development and Management.
The confirmed projects, according to the Bimonthly Bulletin on Chinese investments in Brazil, those relating to the São Simão hydroelectric facility, the container terminal at the port of Paranaguá and two related to oil exploration.
In the first case the State Power Investment Corporation – Pacific Hydro acquired the exploration rights of the hydroelectric facility, according to Chinese state company CMPort bought 90% of the terminal and in the latter two the China National Offshore Oil Corporation (CNOOC) and private company Tek Oil and Gas secured two areas for oil exploration in Recôncavo Baiano and in Espírito Santo.
The same bulletin added that the Chinese investments in Brazil confirmed and announced between 2003 and September 2017 totalled 247, with a joint investment of US$117.181 billion, of which 91 were confirmed and represented an investment of US$50.046 billion.
Most of the Chinese investments in this period came from state enterprises, and large groups such as the Wuhan Iron and Steel Group (Wisco), China Three Gorges, China Petroleum & Chemical Corporation (Sinopec) and China State Grid were responsible for most of the capital invested.
The bulletin from the Brazilian Ministry of Planning, Development and Management added that the sectors of energy and mines have attracted more than 85% of the confirmed investment, and the automotive sector attracted the largest number of projects, with a total of 18.
This sector, which is the one in whichthe largest number of projects was announced, with a total of 39, includes companies such as Chery, IAC Motors, Lifan and Effa.
The ministerial bulletin added that among the confirmed projects 51 are private, involving companies or groups such as Huawei, Midea, the Construction Bank of China and BYD Auto. (macauhub)