Chinese company Xinhongye, considered one of China's largest suppliers of industrial electrical wires and cables, is negotiating the installation of a wire and cable factory in the city of Blumenau in the state of Santa Catarina, with an initial investment of R$200 million, an estimated 200 direct jobs, and an official mission to China that could turn the negotiation into a concrete agreement in the coming weeks.

This progress became more evident with the signing of a protocol of intent through InvestSC. The document provides for the possibility of tax incentives for the installation of the factory, while establishing an important counterpart: priority for service providers from Santa Catarina.

The trip of the Mayor of Blumenau to China, scheduled between 17 and 28 March, has a clear objective: to strengthen institutional and commercial relations and attempt to finalise the agreement for the installation of the factory in the municipality. The agenda includes commitments in cities such as Changzhou and Wuxi, as well as visits to globally renowned companies.

(Source: Click Petróleo e Gás, on 5 March)