Chinese steel service center and investment company CBSteel closed a $3 billion deal to build a mill in the Brazilian state of Maranhao, a government news agency said on Friday. The mill will be built in the city of Bacabeira, in the state of Maranhao, and should generate some 5,000 jobs.
A Maranhao state government news agency said the Chinese investors have been in talks with the Brazilian state since H2 2015. In August 2015, Zhang Shengsheng, CEO at CBSteel, reportedly signed a protocol of intentions with the state of Maranhao to build the steel mill.
Brazil signed a number of investment agreements with China on Friday in Shanghai, which are worth some BRL 15 billion ($4.6 billion), following the visit of recently-appointed president Michel Temer, who assumed the office following an impeachment trial against Dilma Rousseff. Brazil is one of the countries participating in the G20 summit.
Brazil signed a number of investment agreements with China on Friday in Shanghai, which are worth some BRL 15 billion ($4.6 billion), following the visit of recently-appointed president Michel Temer, who assumed the office following an impeachment trial against Dilma Rousseff. Brazil is one of the countries participating in the G20 summit.
China Communications Construction Company (CCCC) said it should invest $460 million in a multi-cargo terminal in the city of Sao Luis, also in the state of Maranhao.