Active Development AidData Chinese Aid

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

Funder	China Communications Construction Co., Ltd. (CCCC)\|China Railway Group Limited (CREC)\|Dalian Huarui Heavy Industry Group Co., Ltd. (DHHI)
Recipient Organization	Government of Brazil
Country	Brazil
Start Date	Sep 05, 2017
End Date	Mar 03, 2029
Duration	4,197 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`62855`

Grant Description

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.

📚 Sources & References

Porto Sul and Fiol projects advance in Bahia
Chinese consortium joins Brazilian iron ore project
Eurasian Resources unit inks deal to develop US$2.4B Brazilian iron ore project
Bamin inks MoU to develop Brazil-based iron-ore project
Rui Costa signs memorandum with Chinese to fund Porto Sul and Fiol
Bamin pens deal to form integrated mining and logistics JV in Brazil
ERG and Bahia Mineração announce signing of MoU with State of Bahia and Chinese consortium to develop 20 mtpa integrated iron ore project
Bahia Mineração to build $2.4bn mining and logistics project in Brazil Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.