Million-Dollar Contract Signed Between The State Of Bahia And Chinese Marks Eastern Entry Into The Construction Sector In Brazil

Written by Paulo Nogueira

Published on 16/11/2020 at 09:05

Updated on 16/11/2020 at 14:23

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Bahia Signs Bridge Contract of US$ 1.26 Billion with Chinese Investors. China Has Been Gaining Ground in Almost Every Segment of the Brazilian Market in Recent Years.

The Bahian government signed a PPP contract with a Chinese consortium for the construction, operation, and maintenance of the Salvador-Itaparica bridge on November 12, 2020. The project is worth 6.9 billion reais (US$ 1.26 billion) and includes 5.4 billion reais in investments from the consortium, formed by China Communications Construction Company (CCCC), CCCC South America Regional Company (CCC CSA), and China Railway 20 Bureau Group Corporation (CR20).

The state government is investing R$ 1.5 billion in the 12.4 km bridge. The consortium now has one year to obtain all necessary licenses and begin construction, with an expected construction period of four years.

“This is the largest investment by a Chinese group in Brazil in recent years. We are very proud to reach this moment of signing the contract with a group from a country that invests heavily in research and technology,” said Rui Costa, governor of the northeastern state.

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The Chinese Connection

Governor Costa belongs to the left-wing Workers’ Party and has strong ties with investors from China.

Last year, the state signed a PPP contract with the Skyrail Bahia Consortium, controlled by the Chinese Build Your Dreams (BYD), for the construction and operation of a light rail service costing 1.5 billion reais in Salvador.

The line will be 20 km long with 22 stations and a capacity to transport 150,000 passengers per day.

Million-Dollar Contract Signed Between The State Of Bahia And Chinese Marks Eastern Entry Into The Construction Sector In Brazil

Bahia Signs Bridge Contract of US$ 1.26 Billion with Chinese Investors. China Has Been Gaining Ground in Almost Every Segment of the Brazilian Market in Recent Years.

The Chinese Connection

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Million-Dollar Contract Signed Between The State Of Bahia And Chinese Marks Eastern Entry Into The Construction Sector In Brazil

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