Chinese investment firm Beijing Huiquan has signed a memorandum of understanding (MOU) with the government of Maranhao, in the Brazilian northeast region, to potentially invest in the local steel industry, an official said.
According to the government of Maranhao, the Chinese investors signed the document during the coming of Asian premier, Li Keqiang, to Brazil, who recently announced a jointly $50 billion investment fund for infrastructure projects in the South American economy.
Maranhao’s state governor, Flavio Dino, said the state is compromised in advancing the dialogue with China. The local government said investors from the Chinese steel sector showed interest in advancing the negotiations after they came to Maranhao in April this year.