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Auction for railways investment in Brazil

Date added: 5th February, 2010 at 11:06
(view all articles from February, 2010)

Categories: Economy

An auction will be held for contractors to take part in a major investment in Brazil by building a high-speed railway in the country.

Dilma Rousseff, the president's chief of staff, said the auction would take place on May 2nd 2010, reports Reuters.

The $17.4 billion (£10.9 billion) investment in Brazil would create a high-speed rail line between Rio De Janeiro, Campinas and Sao Paulo.

A high-speed rail line could encourage investment in Brazil with the Latin American country set to hold the Olympics in 2016 and the football World Cup in 2014.

Ms Rousseff said the 320-mile rail line would be completed in time for the Olympic Games in Rio De Janeiro and that parts could be ready in time for the World Cup.

The railway announcement is the second major government investment in Brazil this month after minister of fisheries Altemir Gregolin said $17 million (£10.6 million) would be spent on improving the infrastructure of the fishing industry in the country, reports Merco Press.ADNFCR-1477-ID-19599595-ADNFCR

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