Originally published on 15 May, 2015
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China is set to invest bn in infrastructure projects in Brazil, with the deal set to be signed during an official visit by Chinese Prime Minister Li Keqiang next week.
The fund will finance a rail link stretching from the port of Santos in Brazil to port of Ilo in Peru, AFP reported.
The investment will also include a joint venture of steel production as well as investing in car parts, ports and hydroelectric power, according to the BBC.
“There are US billion in new projects,” Jose Graca Lima, Brazil’s Undersecretary of State with special responsibility for Asia and Oceania told AFP, “We shall have to await the end of the visit to expand upon which projects,” AFP quoted Lima as saying.
The proposed trans-South America railway would allow faster transport of Brazilian exports to China.
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