Brazil to Invest $65 Billion in Roads, Railways

Wednesday, 15 August 2012 12:36 PM

BRASILIA, Brazil — Brazil is investing $65.5 billion to beef up its road and rail systems as part of a bid to spur its lackluster economy.

President Dilma Rousseff says the investment includes laying 10,000 kilometers (6,200 miles) of train tracks and building or widening 7,500 kilometers (4,660 miles) of federal highways.

She said Wednesday that the continent-sized country "will finally have an infrastructure that's compatible with its size."

The government will award private companies concessions for construction, maintenance and operation of the projects through a competitive bidding process.

The announcement comes as Brazil gears up to host the 2014 soccer World Cup and 2016 Olympics.

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Wednesday, 15 August 2012 12:36 PM
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