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Overview

Chinese consortium pledges financing Porto Sul deep-water port (linked to Record IDs #62077, #62853, #62856)

Commitment Year•2017Country of Activity•BrazilDirect Recipient Country of Incorporation•BrazilSector•Industry, Mining, ConstructionFlow Type•Vague TBD

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Sep 5, 2017
Start (planned)
Sep 1, 2017

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned companies

  • China Communications Construction Co., Ltd. (CCCC)
  • China Railway Group Limited (CREC)
  • Dalian Huarui Heavy Industry Group Co., Ltd. (DHHI)

Receiving agencies

Government Agencies

  • Government of Brazil

Implementing agencies

Private Sector

  • Bahia Mineração (BAMIN)

State-owned companies

  • China Communications Construction Co., Ltd. (CCCC)
  • China Railway Group Limited (CREC)
  • Dalian Huarui Heavy Industry Group Co., Ltd. (DHHI)

Loan desecription

Chinese consortium pledges financing Porto Sul deep-water port (linked to Record IDs #62077, #62853, #62856)

Narrative

Full Description

Project narrative

In September 2017, the Brazilian state of Bahia, Bahia Mineração (Bamin) (a Brazilian subsidiary of Eurasian Resources Group), and a Chinese consortium agreed to own, develop, and to arrange the financing of the project of the Porto Sul deep-water port. The Chinese consortium is comprised of China Railway Group, China Communications Construction Co., Ltd., and Dalian Huarui Heavy Industry Group. Porto Sul will be a deepwater port located north of the city of Ilhéus, Bahia state. It will be capable of handling up to capesize vessels and will be the export point for Bamin’s iron ore (Minex Forum). This project is linked to Record ID#62077, the overarching project of an MoU worth $2.4 billion between the Bahia government, BAMIN, and the Chinese consortium for the development of an integrated mining and logistics project in Brazil. The other sub-projects of this agreement are #62653, the Pedra de Ferro iron mine; and #62856, the Fiol railway. The projected date of full operation for these projects is 2024 (Bahia State Government).

Staff comments

This project is a subproject of #62077, an MoU for the development of a $2.4 billion integrated mining and logistics project in Brazil. Sources vary on what the date of the signing of the MoU is- Metro 1 says it was on September 1st, Mining News says it was September 4th, Minex Forum says it was September 5th.