Brazil's US$27bn harbour upgrade plan

President Dilma Rousseff announced the plan -- which calls for US$15bn in investments during the 2014-2015 period and US$12bn during 2016-2017 -- at an event attended by government and corporate leaders.

The programme is a call for business leaders "to invest in the modernisation and expansion of port capacity in partnership with the state," Rousseff said.

"We will be partners because the government and the business community realise that efficient ports are crucial for the development of our country," she added.

The plan includes a US$1.3bn investment in improving access by land to the ports, a new regulatory system, an overhaul of the port network administration and incentives for investors.

The main goal is to speed up the movement of goods through the ports while lowering costs, said Leonidas Cristino, the official in charge of managing Brazil's network of ports.

Brazil, the world's sixth largest economy and host of the 2014 World Cup and 2016 Rio summer Olympics, has 8,500km of waterways and a network of 37 ports, including three operating under private concession.

In August, the government launched a similar investment plan worth US$60bn for roads and railways.

Source: AFP via I-Net Bridge