Brazil to benefit from burgeoning China (May 03, 2004)

The Chinese government intends to spend as much as US$5 billion upgrading Brazil’s system of ports and railways to improve the speed at which exports, including base metals and iron ore, reach Chinese markets.

One project being examined involves a railway linking Brazil with a port on the Pacific Ocean.

China is Brazil’s third-largest export market: in the first quarter, exports leapt 51% over the year-earlier period.

A group representing the investment firm China International Trust & Investment visited Brazil recently.

Meanwhile, Chinese steelmaker Baosteel is considering building a plant in Brazil in a partnership with Companhia Vale do Rio Doce, the world’s largest iron miner. The plant would cost US$2.5 billion.

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