Apr 30
Havana, Apr 27 (Prensa Latina) Chinese Ambassador to Cuba, Zhang Tuo, said today that his country's relations with Latin America are best than ever in the political, economic and cultural fields.
In remarks to Prensa Latina, the Chinese diplomat said that the number of leaders visiting Latin American Nations is ever increasing, and recalled the recent trip to Colombia by a high ranking official of the Communist Party of China.
He announced that Chinese Premier Wen Jiabao will visit Brazil soon, and President Hu Jintao will attend a meeting in Mexico.
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Apr 3
02 April 2012 12:29 PM EDT
Source (Spanish): Hidrocarburos Bolivia
• Bolivia will sign a contract with Chinese company Linyi Gelon New Battery Materials Co next week.
• The company will be in charge of developing a lithium battery plant, which will involve an investment of USD 2.7 million.
• This project is part of a larger effort to industrialize the resources at Uyuni, the largest lithium reserve in the world.
• The company will have six months to send the equipment and another 3 months to assemble it.
• The contract also includes the construction of a lab and the training of Bolivian technicians.
Apr 2
30 March 2012 03:47 AM EDT
Source (Portuguese): MacauHub
• Chinese Sinopec completed a USD 4.8 billion deal to buy a 30% stake in Petrogal, the Brazilian unit of Portuguese oil company Galp Energia SA.
• In addition, Sinopec realized a shareholder loan to Petrogal Brasil, amounting to USD 360 million, which will be reimbursed to Galp Energia, at the holding level.
• The investment in Galp happened after Sinopec acquired a unit of Repsol YPF in Brazil for USD 7.1 billion, the largest oil investment agreement in China.
Apr 2
30 March 2012 03:27 AM EDT
Source (Portuguese): MacauHub
• The Chinese group Chery Automobile Co Ltd has taken over its operations in Brazil which was previously managed by Brazilian company Avenco.
• The new administration will control both imports of vehicles as well as the construction of the plant in Jacarei, in the state of São Paulo. The Chinese group will invest USD 400 million in the Jacerei plant which is set to be completed in 2013.
• The Chinese group hopes that in return for building the plant, the Brazilian government will see fit to decrease the rate of Excise Tax.
Mar 30
29 March 2012 12:49 PM EDT
Source (Spanish): El Vacanudo
• A Chilean delegation from the province of Osorno will visit the Chinese city of Shendu in order to discuss possible commercial and cultural exchanges between both communities.
• The main objective is to discuss possible agreements that will allow Chile to export products and import machinery from China.
Mar 30
29 March 2012 12:57 PM EDT
Source (Spanish): La Nacion
• Recope and Chinese National Petroleum Corporation (CNPC) have agreed to build a new refinery in Moin, Costa Rica.
• The project's projected profitability will be presented this week. CNPC requires a minimum profitability rate of 16%.
• CNPC also needs to present the construction plan; if Recope approves the plan, financing will still need to be found for the project.
• Construction is expected to start in 2013.
Mar 30
29 March 2012 11:45 AM EDT
Source (Spanish): Semana Economica
• Jiangxi Copper Co. Ltd., a major copper producer based in China, announced that its projects in Peru and Afghanistan are behind schedule due to political and legal issues.
• Jiangxi Copper said production at the projects will begin between 2014 and 2016. The company had previously expected production to begin between 2014 and 2015.
• Jiangxi Copper is the owner of a 40% stake in a copper project in Peru. China Minmetals Nonferrous Metals Company Ltd. owns a 60% stake in the project.
• The project's potential environmental effects are currently being investigated as part of a regulatory study. Construction will begin once local government authorities approve the results of the study.
• Jiangxi Copper's annual cooper production was 202,000 metric tons in 2011. Production is expected to rise by 4% to 210,000 metric tons this year.
Mar 30
29 March 2012 01:12 PM EDT
Source (Spanish): La Opinion
• Colombia and Venezuela have agreed to jointly carry out the construction of a binational oil pipeline through a new company owned by PDVSA and Ecopetrol. The pipeline will transport around 600,000 bpd.
• The project involves an investment of USD 8 billion, which will be provided by both companies. However, there are potential opportunities for outside parties interested in investment.
• Rafael Ramírez, Venezuela's minister of oil and mining, said China has shown great interest in participating in the construction of the pipeline, which will allow for oil export from Orinoco and northern Colombia.
• PDVSA and Ecopetrol have also agreed to jointly exploit oil sites in Venezuela, starting in October of 2012.
• Ecopetrol will lead the exploitation of two sites in the Orinoco area and another two in Apure. The sites each have a production average of 40,000 bpd.
• With the adjustments that Ecopetrol will carry out in the sites, production should increase to 100,000 bpd. The Venezuelan sites have reserves of 816 million barrels.
Mar 30
30 March 2012 04:11 AM EDT
Source (Chinese): Cqnews
• On March 29, Chongqing Municipal Foreign Economic and Trade Committee disclosed that Chongqing Polycomp International Corporation (CPIC) wholly acquired a glass fiber company located in Brazil for USD 59.5 million.
• CPIC bought the company from Owens Corning, the world's largest glass fiber enterprise with approximately 20 glass fiber plants around the world.
