Six investment projects by Chinese companies in Brazil were announced in March and April of this year, three of which worth a total of US$992.7 million, according to the fourth edition of the Bi-monthly Bulletin on Chinese Investments in Brazil of the Ministry of Planning, Development and Management of Brazil.
PetroChina, the China National Petroleum Corporation (CNPC) group company for foreign business, announced on 7 March that it will buy 30% of TT Work, a fuel distributor in Recife, Pernambuco, DJI, a drone manufacturer that opened its second point of sale in Brazil in Curitiba, and YDF Valves announced the acquisition of a portion of IPPG Brasil, based in Sorocaba, the values of which were not disclosed.
The Midea group announced plans to spend US$900,000 to launch an e-commerce platform for direct sales of household appliances, Glory Top paid US$391.8 million in the auction of five ULBRA group educational institutions and a consortium including Shandong Kerui Petroleum won the auction promoted by Petrobras for the implementation of a Natural Gas Processing Unit at the Rio de Janeiro Petrochemical Complex in Itaboraí, investing around US$600 million.
The bulletin reported that two additional investment announcements were identified for December 2017, with Chint Group, a Chinese manufacturer of electrical equipment, announcing a US$34.2 million investment in a solar module factory in Extrema/Mato Grosso and YAPP Automotive Parts, a manufacturer of plastic tanks for the automotive sector, which was preparing an investment of US$24.63 million to build a plant in Gravataí/Rio Grande do Sul by the second half of 2019.
The ministerial document also said that Chinese companies were involved in 262 investment projects in Brazil between 2003 and April 2018, of which 102 were confirmed, with actual investment of US$55.4 billion and announced investment of US$71.3 billion, totalling US$127.7 billion. (macauhub)