At US$60 bln, Beijing-backed Brazil-Peru railway one of the world’s costliest

The estimated cost of a proposed railway that the mainland would help build to connect Brazil and Peru is US$60 billion, Reuters reports.

The news agency says the estimate was delivered during a visit to China last week by Peru’s President Pedro Pablo Kuczynski and Vice-president Martin Vizcarra.

The report quotes Mr Vizcarra as saying the Peruvian stretch of the 3,000 km railway is estimated to cost US$35 billion and the Brazilian stretch US$25 billion.

If the estimate is correct, the railway would be one of the most expensive infrastructure projects in the world.

China, Brazil and Peru agreed in May last year, during tour of Latin America by Premier Li Keqiang, to study the feasibility of the proposed transcontinental railway.