Belt & Road Initiative lands in Brazil

A consortium led by China Communications Construction Company and Zhejiang Herun Group laid the foundation for the construction of the Port of Sao Luis in Brazil on March 16.

Li Jinzhang, Chinese Ambassador to Brazil, and Flavio Dino, governor of the Brazilian state of Maranhao– of which Sao Luis is the capital city– along with about 260 representatives from Brazil and China, were present at the ceremony.

According to Zhejiang Herun Group, this project will boost agricultural development in China and Brazil and raise income among farmers in Brazil. More investment will be made in Brazil to promote non-governmental business and cultural exchange between China and Brazil.

As part of the Belt and Road Initiative proposed by China in 2013, the Port of Sao Luis project is being undertaken in collaboration with Brazilian companies WPR and Lyon Capital. The Chinese companies hold a 51 percent stake in the venture. Construction of the port will take four years and cost some 800 million reais ($243.8 million) to complete.

The port is expected to drive regional development and attract more companies, including Chinese-owned, to Brazil's northeast, an area already conducive to business.

The port will have an estimated annual handling capacity of 10 million tons of cargo, of which 7 million will be grains– especially soybean and corn.

The 180,000-ton berth wharf for grains is constructed in collaboration with Brazilian companies and Zhejiang Herun Group. [Photo/zjol.com.cn]

The construction of the 180,000-ton berth wharf for grains will be led by Zhejiang Herun Group, a private enterprise that spearheads various fields. The 180,000-ton-class cargo ship Herun built in coordination was the first of its kind.