Brazil infrastructure boom set to continue for five years
Brazil’s status as one of the world’s most important construction machinery markets is set to continue for at least another five years after the government revealed that it plans to spend $49 billion on infrastructure. Brazil has emerged from the economic downturn as one of the world’s most robust economies. South America’s leading manufacturer and […]
Brazil’s boom has inevitably attracted global attention from manufacturers
Brazil’s status as one of the world’s most important construction machinery markets is set to continue for at least another five years after the government revealed that it plans to spend $49 billion on infrastructure.
Brazil has emerged from the economic downturn as one of the world’s most robust economies. South America’s leading manufacturer and the continent’s richest in terms of natural resources, the country has benefited from a mixture of a heavily regulated banking sector, social reform and a gradual relaxation of its rules on foreign trade and investment.
Consequently the country in the process of securing trade pacts with countries and region’s such as the GCC, while large manufacturers such as Caterpillar and JCB are focused on building their presence in the market.
Brazilian president Dilma Rousseff outlined plans last week for 8,000 km of roads and 8,000 km of rail across the country. The construction work, which will include nine highways and a dozen sections of railways, will take place over the next five years, with more than half of the budget to be spent in the run up to the FIFA World Cup in 2014 and the Rio de Janeiro Olympic Games in 2016.
Rousseff suggested that funding for the infrastructure construction will come from private investment.
“We are teaming up to expand the country’s infrastructure, to benefit its people and its private sector, to pay off a debt of decades of delay in investment in logistics,” president Rousseff said.
