CCCC signs agreement on Brazilian project in presence of President Xi Jinping

Source:Overseas Business DivisionTime:2017-09-01

On September 1, witnessed by Chinese President Xi Jinping and his Brazilian counterpart Michle Temer, on behalf of CCCC, CCCC President Chen Fenjian signed the investment agreement and financing framework agreement with Industrial and Commercial Bank of China (ICBC) and Thorell on Port San Luis Project at the Great Hall of the People. The signing of the agreement marks a major breakthrough of CCCC in its localized operation in South America.

With a total investment of some USD 700 million, Port San Luis will be financed by ICBC, and jointly constructed by CCCC South America Regional Company and renowned Brazilian enterprise Thorell. CCCC will hold a 51% stake and undertake the engineering, procurement and construction of the project. Concretmat held by CCCC undertook the preliminary design consultation of the project and the port will be operated by CCCC.

Located in the marine outfall of southeastern Brazil, close to Brazil's main grain-producing area, Port San Luis boasts good natural water depth conditions. After being built up, the port will mainly transport grain, chemical fertilizer, oil products and bulk cargo. As the project will boost Brazil's social and economic development and create a lot of jobs, it has been strongly supported by the governments of both countries.