The confirmed investment projects of Chinese companies in Brazil during the first half of the year totalled US$1.343 billion, an increase of 343% compared to US$302.9 million reported in the same period of 2017, according to the Bimonthly Bulletin on Chinese Investments in Brazil for the May/June period.
The newsletter from the Office for International Affairs of the Ministry of Planning, Development and Management also said the figures disclosed for announced projects are relatively similar, with US$286.49 million in the first half of 2018 and US$198.87 million in the same period of 2017.
From 2003 to June 2018, Chinese companies announced 161 investment projects in Brazil with a total investment of US$71.5 billion, of which 102 projects worth US$53.9 billion were confirmed.
Most focused on mergers and acquisitions or acquisition of concessions worth a total of US$48.01 billion, while projects built from scratch were limited to 30, with a total investment of US$5.95 billion.
In May June 2018, three projects were announced, with the highest value related to CPFL Geração de Energia (controlled by the China State Grid group), which won a lot auctioned by the National Electric Energy Agency (ANEEL), with a two-kilometre transmission line, a substation and 450 MVA of power located in Ceará, that represented an investment of US$2.02 million.
The first of the other two projects, which have only been announced, involves an investment of US$847 million over ten years in the hydroelectric facilities of Jupiá and Ilha Solteira by the China Three Gorges group.
The second was the announcement by China Gezhouba Group Company Limited (CGGC) that it had closed a deal of an undisclosed value to buy 100% of the company in charge of maintaining the São Lourenço water system. (macauhub)