Eike Batista Tries to Repurchase Porto do Açu with Help from Chinese Company China Development Integration (CDIL)

Written by Flavia Marinho

Published on 02/02/2021 at 12:55

Updated on 15/02/2021 at 16:24

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Allied With The Chinese, Ex-Billionaire Eike Batista Tries To Repurchase Porto do Açu That Once Belonged Entirely To MMX, A Company Of The EBX Group

Ex-billionaire businessman Eike Batista is trying to repurchase Porto do Açu with the help of the company China Development Integration (CDIL), according to information published last Sunday (31/01) by the newspaper “O Globo”. According to journalists, the extraction of minerals in the Amazon initiated by Eike Batista resulted in the death of workers and misery

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According to the publication, in December, businessman Eike Batista went to Porto do Açu, located in the north of Rio de Janeiro, with a Chinese investor to introduce him to the site.

Porto do Açu once fully belonged to MMX (MMXM3), a company of the EBX group owned by Eike Batista. Currently, MMX is undergoing judicial recovery and remains in operation through a preliminary injunction, with the businessman still owning about 49.7% of the miner MMX.

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MMX, Eike’s Company, Is Under Judicial Recovery

The company MMX, which is under judicial recovery, reported in December that Eike Batista, the controlling shareholder of the company, is awaiting possible homologation of a plea bargain agreement reached with the Federal Public Ministry, but has not yet received any official communication confirming the homologation.

The clarification, sent to the Securities and Exchange Commission (CVM), comes after news reports that Minister Rosa Weber, of the Supreme Federal Court, had homologated the businessman’s plea bargain agreement on November 3.

MMX also stated that it was not mentioned in any of the news articles it had access to and that it is attentive to possible developments of the event, especially if they involve the company.

Eike Batista was sentenced in 2020 to eight years in prison under a semi-open regime for market manipulation by disseminating false information regarding the operations of his oil company OGX.

Eike Batista’s company was one of the most famous on the Brazilian Stock Exchange in the 2000s, but it turned out to be one of the biggest frauds in the history of the country’s capital markets.

Eike Batista Tries to Repurchase Porto do Açu with Help from Chinese Company China Development Integration (CDIL)

Allied With The Chinese, Ex-Billionaire Eike Batista Tries To Repurchase Porto do Açu That Once Belonged Entirely To MMX, A Company Of The EBX Group

Also Read

MMX, Eike’s Company, Is Under Judicial Recovery

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Eike Batista Tries to Repurchase Porto do Açu with Help from Chinese Company China Development Integration (CDIL)

Allied With The Chinese, Ex-Billionaire Eike Batista Tries To Repurchase Porto do Açu That Once Belonged Entirely To MMX, A Company Of The EBX Group

Also Read

MMX, Eike’s Company, Is Under Judicial Recovery

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Australia prepares to dredge 96.5 million m³ in Moreton Bay to deepen, widen, and realign channels of the Port of Brisbane, in a project of up to 25 years designed to accommodate larger ships and enhance maritime safety and regional port efficiency.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

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Robot dives up to 500 meters into the dark depths of the sea to retrieve ghost nets that total more than 600,000 tons per year in the ocean and continue capturing animals for centuries.

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