Shanghai Pengxin Group wants to invest more in Brazil, particularly in a railway project, an official Brazilian website reports.

Portal Planalto says Shanghai Pengxin Group Chairman Jiang Zhaobai met Brazil’s President Michel Temer on Wednesday.

“We believe that with the new government [in Brazil] there are more incentives to bring new investments to Brazil, namely in fields including agriculture, infrastructure and logistics related to agricultural production,” Mr Jiang was quoted as saying.

He added that several Chinese companies were interested in investing in the South American country.

The concession for a railway connecting Sinop, in Mato Grosso state, to Itaituba, in the state of Pará, was one target for Shanghai Pengxin. The railway is part of a government programme to stimulate economic growth.

Shanghai Pengxin controls Fiagril, a Brazilian grain processing and exporting company.