August 7, 2019 / 3:41 PM / 10 days ago

Chinese firm eyes billions of dollars in Sao Paulo tenders

SAO PAULO (Reuters) - CR20, a subsidiary of China Railway Construction Corp (CRCC) (601186.SS) is interested in billions of dollars of infrastructure tenders in the Brazilian state of Sao Paulo, the state government said on Wednesday.

Among the projects the firm is eyeing is a new metro line in the city of Sao Paulo, as well as intercity rail links and a project to clean up the heavily polluted Pinheiros River.

“Within our company, we have to capacity to carry out practically all types of infrastructure projects,” CR20 Chief Executive Deng Yong said in comments cited in a government statement.

The state government has said it plans to carry out a tender for the intercity trains by the end of the first quarter of 2020, and has said the tender process for the metro line could take place in August. The river clean-up process should take place next year, it has said.

The Sao Paulo government said it hopes to raise up to 22 billion reais ($5.53 billion) from the tenders.

In a statement, Governor João Doria said “Chinese investors, funds based in the Middle East, the Japanese and the Europeans” are among the competitors.

Reporting by Paula Laier; Writing by Gram Slattery; Editing by Steve Orlofsky

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