China to invest $50bn in Brazil infrastructure

China is planning to invest up to $50bn (£32bn) in Brazil for new infrastructure projects.

The deal is due to be signed by banks from both countries during a visit by Chinese Prime Minister Li Keqiang to Brazil next week.
The money will go towards building a railway link from Brazil's Atlantic coast to the Pacific coast of Peru to reduce the cost of exports to China.
It says the fund will also finance a joint venture to produce steel.

See: http://www.bbc.com/news/business-32747454