Chinese rolling stock manufacturer CRRC Qingdao Sifang Co signed a supply contract worth more than $100 million on Friday to provide 64 units to a local railway company in Sao Paulo, Brazil.
The delivery is expected to take place in 2019, CRRC Vice President Lou Qiliang was quoted as saying in a People's Daily's report.
Sao Paulo is the largest city in South America, and this contract means a lot for CRRC to further expand in the South American market, Lou noted.
Railway transportation is one of the key sectors in which China and Brazil will expand cooperation, Chen Peijie, China's Consul General in Sao Paulo, was quoted as saying in the report.
