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Doing business in Brazil: UK firms working in Brazil

UK firms working in Brazil include Halcrow, Balfour Beatty, Mott MacDonald, and retail developer Squarestone.

Halcrow is now working on the proposed 520km high speed train link between Sao Paulo and Rio de Janeiro. The estimated cost of the project is US $11 billion (£7.4 billion).

Developer Squarestone started working in Brazil about two years ago and chief executive Tim Barlow is optimistic about further developments.

While the company is currently trying to raise capital for future projects, he says the margins there are “significantly better” than those in the UK.

Squarestone is currently working on the extension of a shopping centre in Sao Paulo to open in April, worth R$140 million (£40 million). Construction will be managed by its local partner.

It is also adding nearly 30,000 sq m to another mall in the city, worth R$450 to R$500 million (£129 to £ 143 million), to start on site this summer.