Chinese company to invest in Brazil's agricultural complex

China's Chong Qing Grain Group plans to invest 4 billion reais ($2.4 billion) in an agricultural complex in Brazil's north-eastern state of Bahia, local media reported on Monday, expanding China's growing presence in Brazil. The investment will include a soy crusher, a soy storage terminal and a fertiliser processing plant, according to business daily Valor Economico, with construction of the complex expected to begin in May.
The deal will be formally signed during a summit in April of the emerging powers known as the BRIC group, which includes Brazil, Russia, India and China.