RIO DE JANEIRO, Aug. 15 (Xinhua) — Brazil announced a multi-billion-dollar program on Wednesday to upgrade the country’s transportation infrastructure.
Under the Program of Investments in Logistics, Brazil will invest 133 billion reais (65.8 billion U.S. dollars) in construction and expansion of its aging highways and railways.
A total of 42 billion reais (20.8 billion dollars) will be used to double Brazil’s 5,700-kilometer highways, while 91 billion reais (45 billion dollars) to build 10,000 kilometers of railways.
Transport Minister Paulo Passos said it is “imperative for the country’s accelerated development” to modernize transportation network.
The investments are to be made through the private sector, with the government selling highway and railway concessions to private companies.
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Editor:James |Source: Xinhua