Friday, June 14, 2024
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HomeBusinessBrazil plans to increase railway exports: 40 percent by 2035

Brazil plans to increase railway exports: 40 percent by 2035

BRASILIA, Brazil – Brazil hopes to attract about 180 billion reais ($36.6 billion) in private investment in new rail and road projects over the next three years, the country’s transport minister Renan Filho told Reuters.

In the interview, he noted that the Brazilian government will also invest about 80 billion reais ($16.2 billion) during the term of president Luiz Inacio Lula da Silva (2023-2026). However, some 35 tenders should attract more than double the amount of investment from the private sector.

Brazil aims to expand its freight-oriented rail system to 40 percent of exports by 2035, up from the current 17 percent, he said.

Filho said the national railway plan to be presented next month includes six new passenger routes, including from the capital Brasilia to the central state of Goias and from São Paulo to Paraná. Currently, there are only two interstate passenger railways operating in Brazil.

“We believe that this (passenger trains) is an area where we need to develop and grow,” the Brazilian minister emphasised.

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