Warning: pg_exec() [function.pg-exec]: Query failed: ERROR: could not write block 1 of temporary file: No space left on device HINT: Perhaps out of disk space? in /var/www/construpages/engine/nl.obj on line 169
Traductor
Units converter
Advertising
Quotes on line
2015 CONEXPO LATINAMERICA
2015 World Crane and Transport Summit
2014 International Cranes and Transport Latin America
World of Concrete 2015


Warning: pg_exec() [function.pg-exec]: Query failed: ERROR: could not write block 1 of temporary file: No space left on device HINT: Perhaps out of disk space? in /var/www/construpages/engine/nl.obj on line 169

   Search News
RSS
BNDES to put up to US$11.8bn into bullet train with possibility to renegotiate (Brazil)
2010-11-09
Brazilian development bank BNDES plans to put up to 20.0bn reais (US$11.8bn) in funding into the Rio de Janeiro-Sao Paulo-Campinas bullet train project, as an executive order - known as MP 511 - opens the possibility of the government renegotiating credit on the project later on.

 

BNDES said in a release that it would limit itself to 80% of the financed items or 60.3% of the total investment, offering an interest rate equal to long-term reference rate TJLP (currently set by the government at 6%) plus 100 bps for credit risk to the winning firm in the tender to be held on December 16.

 

The payment term will be for 30 years, confirming previous information.

 

BNDES also confirmed that there would be a subsidy for the deal - should revenues fall under the projected levels - in the form of reduced interest rates, which could total 3bn reais in the first five years and for 2bn reais in the sixth through tenth years of the project. The minimum interest rate in this case would be 3%.

 

MP 511, which was signed by current President Luiz Inacio Lula da Silva and finance minister Guido Mantega, also included language that allows the government to renegotiate the terms of the loan to be issued by BNDES with the aim of "matching cash flows to the financing of this project."

 

The project, which is known as TAV, is expected to cost up to 33.1bn reais and involves building a 511km railroad, including 90.9km of tunnels and 103km of bridges and overpasses. The bullet train will travel at an average speed of 300-350km/h. Companies from Germany, France, Spain, South Korea, China, Japan and Italy are reported to have expressed interest in the project.


Send this publication to a friend




More news

Warning: pg_exec() [function.pg-exec]: Query failed: ERROR: could not write block 1 of temporary file: No space left on device HINT: Perhaps out of disk space? in /var/www/construpages/engine/nl.obj on line 169
...
...
...