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Home > Maritime News > Brazil Seeks $26 Billion to Modernize Ports

Brazil Seeks $26 Billion to Modernize Ports

Created by HButler on 12/11/2012 10:35:45 PM

Brazil’s government has launched a $26 billion public-private drive to modernize crowded ports, which have been eroding the country’s competitive edge as a major commodities exporter, according to a Reuters report.

President Dilma Rousseff said she is counting on private investment to supplement government funds.

The investment will improve crowded highways, decaying bridges, a rickety electric grid and other overstretched infrastructure.

According to the government, Brazil’s 34 major ports are unprepared to deal with a potential quadrupling of port traffic to nearly a billion metric tons a year by 2030.

- The Journal of Commerce.

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