CCCC close to huge grain port deal

China Communications Construction Co Ltd is close to a deal to invest in and construct a grain handling port in Santa Catarina, the latest move to facilitate grain trade between China and Brazil.

That's according to a memorandum of understanding recently agreed between CCCC and Brazil's Anessa fund, the port's current controlling shareholder.

The two sides are expected to sign a purchase agreement on Dec 31. The value of the transaction and other financial terms were not disclosed.