Businesses in China to invest US$24.8 bln in São Paulo

Governor João Doria of the Brazilian state of São Paulo has said enterprises in China have made commitments to invest US$24.8 billion in his state in the next 10 years, Lusa reports.

The Portuguese news agency quotes Mr Doria as saying on his return from a visit to Beijing, Shanghai, and Xi’an that US$20 billion would be invested by the China Development Bank and the New Development Bank, an international institution set up Brazil, Russia, India, China and South Africa, which has its head office in Shanghai.

Chinese private enterprises will invest the other US$4.8 billion, telecommunications equipment maker Huawei Technologies Co. Ltd alone putting up US$800 million to build a second factory in São Paulo, Lusa quotes the governor as saying.

In a separate report, the Chinese government-run news agency, Xinhua, quotes Mr Doria as saying his government and the Brazilian central government will invite in October bids to build and operate two railway lines, and that Chinese companies are interested in bidding.