China to invest $50bn in infrastructure projects in Brazil
May 15 , 2015
China plans to invest up to $50 billion in Brazilian infrastructure projects, reports say.
The deal would be signed by banks from both nations when Chinese Prime Minister Li Keqiang visits Brazil next week.
One of the main projects to be taken up under the deal is the building of a rail link from the Atlantic coast in Brazil to Peru’s Pacific coast, with the aim of reducing costs of export to China.
In January, China pledged an investment of $250 billion in Latin America over a 10-year period.