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China, Brazil vow to build transcontinental railway

21 July 2014 | By GCR Staff | 0 Comments

Chinese President Xi Jinping and his Brazilian counterpart Dilma Rousseff vowed last week to work together to build a high-speed railway across the entire South American continent.

The track, which would link the Brazilian Atlantic coast with the Peruvian Pacific coast, would boost Brazil’s economic growth and regional development, Rousseff said, adding that Brazil is ready to join hands with China and Peru to guarantee the success of the project.

Xi met with Peruvian President Ollanta Humala as well and proposed setting up a trilateral working group to plan the transcontinental link, Xinhua reported. The Peruvian leader is reported to have expressed a readiness to work with China and Brazil on the idea.

Xi was in Brazil attending a summit of the so-called BRICS developing countries (Brazil, Russia, India, China and South Africa). He will also attend a China-Latin America summit.

During his vist Xi also offered to create a $20bn fund to invest in infrastructure projects in Latin America and the Caribbean.