China and Brazil signed a major power agreement on Thursday during a Brics summit in the South American nation, The Wall Street Journal reported. State Grid Corp. of China will team up with Brazilian Eletrobras (EBR.B.NYSE, ELET6.BVMF) to build high-power-transmission lines connecting the Belo Monte dam in Brazil’s Amazon, a US$16-billion project to build the world’s third-largest hydroelectric dam. The president of Brazil’s BNDES development bank signed joint financing deals with the China Development Bank that would allow BNDES to finance Chinese participation in infrastructure.
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