China Communications Construction Co. Ltd (CCCC) has announced that its directors have approved its investment in the consortium that has the contract to build and operate a bridge in northeastern Brazil.
The Chinese state-owned enterprise told the Hong Kong Stock Exchange that its partner in the consortium was another Chinese state-owned enterprise, China Railway 20 Bureau Group Corp.
CCCC said the consortium, Salvador Itaparica Bridge Roadwork Franchise Ltd, had 355 million yuan (US$53.1 million) in share capital.
CCCC said the bridge would carry a road between the city of Salvador and the island of Itaparica, and would be the second-longest in South America.
The project would help cement the Sino-Brazilian strategic partnership, CCCC told the stock market.
(Source) Permanent Secretariat to the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao):