July 24, 2018 |
The Brazilian government has issued a decree to create a fund for investments in the country's railroads.
The order spells out three sources of financing for the new fund: the federal budget, donations and "other sources," which include proceeds from the concession auction for the segment of the Norte-Sul railway between Porto Nacional in the state of Tocantins and Estrela d'Oeste in the state of São Paulo.
The government expects to earn at least BRL1bn ($264m) from the concession auction. The
Transportation ministry plans to use the money earned from concession auctions to cover investments in railroad projects