NYC subway repairs: $68 billion. California HSR: $88-128 billion. Brazil-Peru railway: $70 billion | Inside China Business

China and Brazil are building a transcontinental railroad that will connect key South American markets to Peru's new Pacific port.

When completed, the Bioceanic Railway haul 50 million tons of agricultural and mine output from Brazil to Peru, and from there to China and other global consumers. It also opens up vast new markets for China's consumer and industrial brands.

Freight transport via the new rail to Peru will be far more efficient compared to today's, which is by truck to Atlantic Ocean ports, then through the Panama Canal. For the average shipment, it will save 10 days and 10,000 kilometers.

At a projected cost of $70 billion, the new railroad is similar in cost to recent upgrades to the New York City rapid transit system, and the HS2 project in the UK.