Kazakhstan invests in Brazil’s mining industry

Kazakhstan's Ambassador Kairat Sarzhanov took part in the signing ceremony of an agreement between the administration of the Brazilian state of Bahia and the Bahia Mineração company on the creation of a special purpose operator company for the project to build the Porto Sul seaport in the Aritagua district in the municipality of Ilheus, Bahia, and combining its two private terminals. This was reported by the press service of the Ministry of Foreign Affairs of Kazakhstan.

During his visit to Salvador, Sarzhanov met with Governor of the State, Rui Costa, President of the Federation of Industrial Enterprises of the State of Bahia, Ricardo Alban, and President of the Foreign Trade Council of the Federation, Angelo Junior, in which the prospects for trade, economic and investment cooperation between the Brazilian state of Bahia and Kazakhstan were discussed.

Bahia Mineração, a subsidiary of the Eurasian Resources Group, 40% of which is owned by the government of Kazakhstan, is implementing the Pedra de Ferro iron ore production complex in Caetite, Bahia. The total ERG investment in the iron ore complex is $1.5 billion. Bahia Mineração will also invest in the construction of the Porto Sul seaport and plans to take part in the construction of the section of the East-West integration railway, which will connect the Pedra de Ferro complex for the transportation of iron ore with seaport.

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