Reuters logo
Factbox: China's surging direct investment in Brazil
August 10, 2010 / 5:51 PM / 7 years ago

Factbox: China's surging direct investment in Brazil

(Reuters) - China’s direct investment in Brazil has surged, putting China on course to be the biggest foreign direct investor in Latin America’s largest economy this year.

Following are some of the major deals that have been announced:

* Wuhan Iron and Steel Co 600005.SS is investing up to $5 billion to build a steel mill in northern Rio de Janeiro state. It previously paid $400 million for a stake in Brazilian mining firm MMX (MMXM3.SA).

* China’s Sinochem Corp won the bidding for a $3 billion stake in a Statoil offshore Brazilian oil field.

* East China Mineral Exploration and Development Bureau agreed in March to pay $1.2 billion for Brazilian iron ore miner Itaminas Comercio de Minerios.

* State Grid, China’s biggest electrical utility, agreed to pay $1.7 billion for seven Brazilian electricity transmission companies.

* Automaker Chery Automobile Co. will invest about $700 million to build its first production plant in Brazil, according to media reports.

* Chinese investment group Honbridge Holdings bought an iron ore mining firm in Minas Gerais state for $390 million from Brazilian firm Votorantim.

* Construction machinery maker Sany Heavy Industry (600031.SS) is spending $200 million to build a plant in Sao Paulo.

* Chinese state firm Chongqing Grain Group is seeking to invest $300 million to buy 100,000 hectares of land in the northeastern state of Bahia to cultivate soya.

* China agreed last year to lend $10 billion to Brazil’s Petrobras (PETR4.SA) (PBR.N) in return for guaranteed oil supply over the next decade.

Compiled by Stuart Grudgings

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below