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

Tags:

You May Also Like

Brazil’s Ruling Party Diverted US$ 4.5 Million from Bank of Brazil and Lula Is in Danger

Brazilian opposition leaders announced that President Luiz Inácio Lula da Silva will be included ...

US Curbs on China Boost Brazil’s Printing Sector

Brazilian exports of printing material increased 60.21% in the first half of the year ...

Brazil Take Japanese Road on Digital TV

Brazil’s Minister of Communications, Hélio Costa, informed that a technical agreement was signed on ...