Lula’s US$ 856 Billion Growth Plan Will Start Only After He Leaves Office

PetrobrasFrom the total 1.59 trillion Brazilian reais (US$ 856 billion) forecasted for investment in the second phase of the Growth Acceleration Program (PAC 2), announced by the government of Brazil this Monday, March 29, 958.9 billion reais (US$ 515 billion) should take place from 2011 to 2014 and the remaining 631.6 billion (US$ 341 billion) should be disbursed after 2014.

Most of the funds should go to energy (US$ 588 billion). In oil and gas alone, investment should reach US$ 473 billion, and in electric energy generation, US$ 74 billion.

Exploration and production of pre-salt oil should receive US$ 68 billion, of which US$ 35 billion from 2011 to 2014 and US$ 33 billion after 2014.

These funds should finance evaluation in the following areas: Tupi, Nordeste, Carioca and Iracema. Guará, Iara, and Baleia Azul fields as well as the Tupi pilot project should all start operating. A total of 28 drills should be purchased for exploration and production in deep waters.

The PAC 2 forecast for sanitation is US$ 12 billion. For prevention in risk areas the forecast is US$ 6 billion and for the urban modality, US$ 10 billion. In paving, the investment should reach US$ 3 billion. The total investment in these areas should reach US$ 31 billion.

Among the guidelines forecasted for the PAC 2 are the replacement of collection and sewage treatment, as well as the expansion of treatment of solid residues, with new garbage dumps and technological modernization.

ABr

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