No holding back on Brazilian port investment
Brazils Special Secretariat for Ports has guaranteed that, despite the world financial crisis, investment to upgrade and expand both public and private ports will not suffer short-term cuts.
According to the government, there will not be any suspension of investment nor withdrawal of planned investment. Vital dredging work costed at $688m will definitely go ahead, the secretariat confirmed. However, in stark contrast, the Brazilian Association of Port Terminals claims that private sector investment in ports will fall by 20% over the next five years, although $918m will be spent on building and expanding port terminals.
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