CCCC given nod to take part in Brazilian bridge project

China Communications Construction Co. Ltd (CCCC) says its board approved on Tuesday investment by the state-owned enterprise in a Chinese consortium which has the contract to build and operate a road bridge in the northeastern Brazilian state of Bahia.

CCCC told the Hong Kong Stock Exchange on Wednesday that a new subsidiary, CCCC South America, will be part of the consortium.

Last December a business intelligence website, BNAmericas, reported that the consortium of CCCC and another state-owned enterprise, China Railway 20 Bureau Group Corp., had won a 35-year contract worth 5.3 billion reals (about US$1.08 billion), to build and operate a 12.4 km bridge between the city of Salvador and the island of Itaparica, the second-longest in South America.