Jose Rubens de la Rosa told Sputnik that negotiations about the Brazilian government-proposed transport corridor project is in its initial stages.
"In terms of technology, Russia and China may become the largest participants," de la Rosa told Sputnik.
Sergei Katyrin, the head of the Business Council’s Russian Chapter, told reporters earlier in the day that Russian companies, including Russian Railways, are interested in participating in the "Santarem-Tapajos" transport corridor.
The plan envisions connecting the southeastern Brazilian port of Paranagua with the northern Chilean port city of Antofagasta via Argentina and Paraguay.
The BRICS Business Council, an association of 25 members from the five-nation group, signed a declaration on investment cooperation on the opening day of the BRICS summit on Wednesday.