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Tuesday, 20 March 2018

Consortium led by Chinese group starts construction of port in Brazil

A consortium led by the China Communications Construction Company (CCCC), in association with Brazilian companies WPR and Lyon Capital, began work on Friday to build the port of São Luís in the northeast state of Maranhão, Xinhua news agency reported.

Construction of the port will take four years, cost US$245 million, create 4,000 jobs and allow Maranhão to increase its capacity to export grain to Asia, Europe and Africa.

China is the largest importer of soybeans from Brazil with a total value of US$20.31 billion.

The new port will have capacity to handle 10 million tons of cargo per year of which 7 million will be grain, mostly soybeans and corn, 1.5 million tons of fertilisers as well as 1.8 million cubic metres of oil products.

The new port will also allow the states of Maranhão, Tocantins, Piauí and Bahia to improve mechanisms and the quality of exported products.

The CCCC, which owns 51% of the group that is building the port, is one of China’s largest construction companies with 100,000 workers and the largest Chinese company listed on the Hong Kong stock exchange.

March 19, 2018 by Macau Hub

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