THE director-general of Brazil's National Land Transport Agency (ANTT), Mr Bernardo Figueiredo, says that bid documents for the concession to fund, build and operate a high-speed line linking Rio de Janeiro, São Paulo and Campinas will be published by the end of this week. The contest to select a concessionaire will take place in late November, with a view to starting construction by the end of next year.
THE director-general of Brazil's National Land Transport Agency (ANTT), Mr Bernardo Figueiredo, says that bid documents for the concession to fund, build and operate a high-speed line linking Rio de Janeiro, São Paulo and Campinas will be published by the end of this week. The contest to select a concessionaire will take place in late November, with a view to starting construction by the end of next year.
The winning consortium will be expected to seek public funding of up to Reais 19.9 billion ($US 11 billion) to be paid back within 30 years, with a five-year grace period. There will be review points in the concession agreement at Year 5 and Year 10 to ensure the correct balance between cash flow and project financing costs.
An application has been submitted to the Brazilian president to set up a state-owned company called Etav which will provide 33% of the equity in a special-purpose company formed to build and operate the high-speed line. Etav will also be responsible for monitoring construction.
The 2011 projected start for the project is dependent on securing environmental clearance and the completion of land expropriations.
