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The Joint Investments of China with Eike Will Reach Tens of Billions of Reais in Oil and Gas, Mining, Renewable Energy, and Infrastructure Projects
Allied with the Chinese, former billionaire Eike Batista is trying to repurchase Porto do Açu, which formerly belonged entirely to MMX, a company of the EBX group, with the help of China Development Integration (CDIL). In addition, Eike wants to once again play a leading role and aims to construct a solar plant capable of generating 1,100 megawatts, in partnership with the company Taiwa. He also has other mining projects lined up to be installed at the Port.
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The construction of a solar power park with a capacity of 1,100 megawatts, with the first 300 being built in an area adjacent to Porto do Açu, is expected to have the panels supplied by the Chinese company Trina Solar, one of the world’s largest solar panel producers. “The energy tariff in Brazil is the best in the world,” said Amir, who was in Brazil from December to February negotiating with Eike and visiting the assets.
Eike Closes Partnership with China and Gains ‘Infinite’ Capital to Implement Oil and Gas, Mining, Renewable Energy, and Infrastructure Projects in Brazil
After watching his empire crumble, former billionaire Eike Batista has been spending his time nurturing a list of at least 11 projects that he calls ‘unicorns’, which include a gas pipeline linking Brazil to Paraguay, new gold mines, renewable energy, and nanotechnology.
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Chinese giant worth nearly R$ 4 billion that manufactures cables for electric cars, solar energy, and robotics wants to open a factory in SC.
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Many employers do not know, but the law guarantees domestic workers a 25% increase in salary during trips, 50% for overtime, 20% for night shifts, and 17 additional benefits that can lead to labor lawsuits if not paid.
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Gasoline prices soar and the question arises: is ethanol more advantageous? The 70% rule reveals the limit with gasoline.
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The government has made a decision and is starting a test with more ethanol in gasoline, anticipating a mixture of up to 35%, diesel with 25% biodiesel, and a study to assess the impacts on engines.
The new business arrangement between the Chinese and the former billionaire will be as follows: Eike provides his project pipeline (including assets and optioned assets), and CDIL supplies seemingly infinite capital, along with various Chinese banks and state-owned enterprises that will be responsible for providing machinery, equipment, and services, and when it comes to agricultural or metallic commodities, will ensure the purchase of production in the form of offtake agreements.
Eike “is one of the largest developers of natural resources in history,” said CDIL chairman Andy Lai to Brazil Journal during a Zoom video call from Hong Kong. “He developed one of the largest mines in the world [the Minas-Rio project, which is now owned by Anglo American], knows the data on large unexplored reserves, and brought to life the largest infrastructure projects in Brazil. For us, leveraging his knowledge and experience is a wise move.”
“The Chinese saw Açu, OGX, and MMX and said, ‘Eike thinks a lot like us, but everything he did is something for governments to do; it’s on a government scale,’” said Pedro Guimarães from Rubicon. According to him, Eike will contribute his “structuring mindset,” and CDIL will help with management capacity.
Eike and China Announce Partnership, and Shares of MMX – the Company in Judicial Recovery of the Former Billionaire, Soar on the Stock Market
After the big news that Eike Closes Partnership with China and Gains ‘Infinite’ Capital to Implement Oil and Gas, Mining, Renewable Energy, and Infrastructure Projects in Brazil, shares of MMX, the company in judicial recovery of the former billionaire, soared on the stock market.
MMX Mining and Metals, a company of the EBX group that operates in iron ore mining, has returned to the investors’ radar since mid-March after soaring more than 500% in 2020.
In 2021, the assets have accumulated gains of 63.47%, considering the closing up to last Tuesday, while from the closing on March 18 until the last session, the accumulated gains were 84%.
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