When China’s President Xi Jinping made his Brazil visit in mid-July, he witnessed the signing of a Sany joint venture project in the company of Brazil’s President Dilma Rousseff.

The two presidents met in Brasilia on July 17 and announced a Joint Declaration on the China-Brazil Strategic Partnership and witnessed the signing of a memorandum on Sany investment in Brazil, by Sany’s chairman, Liang Wengen, and the mayor of Jacarei, in St. Paul state, Hamilton Ribeiro Mota. It calls for Sany to put about $300 million into a plant in Jacarei in R&D, manufacturing, and sales of engineering machinery and equipment that will start operation, in 2015. By 2020, after expansion, it will create about 1,000 jobs in Brazil.

Sany has developed products to meet the construction needs of Brazil, in recent years, depending on market demand, especially equipment that was used for building the 2014 World Cup and the Olympics venues recently, where Sany helped complete eight of the 10 football fields. In addition, a Sany crane has been No.1 in sales in Brazil for two consecutive years. In the future, as Brazilian infrastructure develops, Sany has some real prospects.

During his visit, Xi also reached a consensus with Rousseff and signed cooperation agreements and Rousseff promised that Brazil will support Sany’s investment project. Xi said that the project represents the quintessence cooperation between China and Brazil.