| Brazilian Infrastructure Spend Increases For 2014 World Cup |
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| Written by Ginny Naish |
| Saturday, 07 August 2010 12:48 |
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The government of Brazil is about to spend nearly $880 billion on infrastructure related projects leading to the 2014 World Cup and 2016 Olympic Games.
The government of Brazil is about to spend nearly $880 billion on infrastructure related projects leading to the 2014 World Cup and 2016 Olympic Games. With $280 billion already invested since 2007 and a further pledge of $878 billion announced by President Luiz Inacio Lula da Silva's administration, Brazil's preparations for the World Cup in 2014 and the Olympics in 2016 are well underway. Hundreds of thousands of athletes and spectators from all corners of the globe will be descending on Brazil between 2014 and 2016 and this emerging world power is more than ready to take its place in the spotlight. At a ceremony at the Brazilian foreign affairs ministry last Monday, President Lula da Silva announced a programme of massive airport investment in time for the 2014 World Cup. All of the works are forecast to be completed by April 2014, in advance of the World Cup. The host cities are , Rio de Janeiro, Sao Paulo, Belo Horizonte, Brasilia, Cuiab, Curitiba, Fortaleza, Manaos, Porto Alegre, Salvador, Recife and Natal. In answer to Lula da Silva's remaining opponents, the President on Monday dispelled any lingering doubts as to the Government's commitments to infrastructure reform with the official launch of the bidding process for the country's ground-breaking bullet train scheme. The bullet train will span the 510km corridor between Rio de Janeiro and Sao Paulo linking the "megapolis" with a maximum journey time of just 97 minutes. The area is home to some 40 million people, 20% of the entire Brazilian population, along with companies and industries that together generate one third of Brazil's GDP. An extension to Campinas, 70 kilometers from Sao Paulo has also been planned with the aim of providing access to the heart of Brazil's richest manufacturing and farming region. Speaking at the launch President Lula da Silva said "in the last fifteen years nobody in this country has laid a single train track" and promised that "we are going to furnish this country with good highways, waterways and railway systems, and this process has already begun". Whilst the state will maintain a healthy stake in the infrastructure projects, support from the domestic and international private sector is proposed. Significant interest has already been registered from several Western European states including Germany, Spain and France along with South Korea, Japan and China, currently one of Brazils most favoured trading partners. Key to Brazils infrastructure investment strategy is the planning of projects that will not just support these events but which will provide ongoing social and environmental benefits to the Brazilian people from North to South who need them for many years afterwards. DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. This article was written by Ginny Naish, Director of Brazil Property Administration, a Brazilian land & property consultancy based in Joao Pessoa, Paraiba. Brazil Property Administration can provide consultancy services with regard to development consultancy, Cost analysis , project management and property marketing. |