Hongqiao Group to build port in Brazil to facilitate iron ore exports

Hong Kong-based Hongqiao Group, China's largest privately-owned aluminum producer, has signed an agreement with China Communications Construction Co., Ltd, the largest port construction and design company in China, to build port facilities in Brazil for the transportation of iron ore from its Brazilian iron ore project Sul Americana de Metais (SAM).
 
In April 2010, Hongqiao Group acquired Sul Americana Metais at a price of $390 million from Brazil-based company Grupo Votorantim.