Bidding opens for investment in Rio bullet train
Date added: 14th July, 2010 at 09:43
(view all articles from July, 2010)
Categories: Rio
Bidding opened yesterday for the development of a high-speed bullet train, which is expected to see $19 billion (£12.54 billion) of investment in Rio and Sao Paulo, according to Reuters.
The transportation system will run between the country's two biggest cities and President Luiz Inacio Lula da Silva is aiming to have the infrastructure up and running before the 2016 Olympic Games come to Brazil, the news provider said.
Companies are to bid on the 530 km line by a November 29th deadline and firms from France, Germany, Japan, South Korea, Spain and China have all expressed interest, the information source revealed, citing transport minister Paulo Sergio Passos.
Meanwhile, media reports have suggested that Alstom, Siemens and Mitsui are among the contenders, Reuters noted.
Up to 60 per cent of the cost of the project will be funded by state bank BNDS - nearly R$20 billion (£7.5 billion) - while the winning bidder will be budgeted at R$33.1 billion, the news provider stated.
Writing from Bloomberg Business Week, Alexander Ragir recently described Rio de Janeiro as "becoming an engine of Latin America's largest economy."
For anyone wishing to invest in the full potential of Brazil, Property Bond Brazil has an excellent array opportunities for investment in Rio. 
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