Clipping of news on Brazilian Culture, Law and Citizenship
02/08/2013
This article was translated by an automatic translation system, and was therefore not reviewed by people.
They will be made to medida que progresses feasibility studies
government can increase the degree of attractiveness of concession projects of highways, railways, airports and ports, launched last year, as advance the technical feasibility studies that will lead to the bidding documents of the projects. These studies, carried out individually for the auctions to be held this year, can make room for course corrections, like the bidding of highway BR-040, between Brasilia (DF) and Juiz de Fora (MG), and BR-116 in the stretch miner. The bids were scheduled to last Jan. 30 but were postponed until they were offered better conditions for investors.
After the postponement of the auction of two highways that are part of the program of transport logistics, the finance minister, Guido Mantega, announced this week new rules for highway concessions that increased the period of funding these projects from 20 to 25 years and shortage spent the five years, two more than planned before. The concession period also increased to 30 years. Moreover, the government changed the forecast average growth in traffic, which decreased from 5% to 4% per year.
But according to a technician heard by BRAZIL ECONOMIC, changes like this are not made on behalf of a potential investor disinterest in the projects of concessions announced by the government. "On the contrary, at all times we are being approached by companies interested in the concessions," says the source. "There investor exiting the thief."
According to him, in the case of highways, the thickening of the feasibility studies showed that the investor would take greater risks, hence the need to extend the deadline for him to regain profit. "These revisions are normal since we have a new model of roads that no longer considers the value of the grant, but the lowest rates with the best investment."
In the same direction, he did not rule out the possibility of the Special Secretariat of Ports (SEP) come to adopt better conditions for port concessions and leases of areas within the organized ports in the country. As BRAZIL ECONOMIC published last week, the SEP in conjunction with the National Bank for Economic and Social Development (BNDES) is initiating studies to lease at least 150 areas located within the organized ports in the country.
In assessing the technical revisions to levels of profitability for investors are also justified by the concession model being applied to different sectors of the country's infrastructure, which in some cases appears as a new experience, as in the case of highways and ports. The model assumes the purpose of payment of the grant in exchange for lower rates by a higher level of investment. The dynamics requires demand forecasts tuned for investors to feel safe to enter the business.
"The first road concessions that we had a high value of the grant, the investor had to pay for the business opportunity, but this resulted in higher tolls. In the second batch of highway concessions and decided to lower the rate. But the dose was exaggerated and the investor has not had the expected profitability now bet on another model that needs to be fine-tuned to make it work.
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Source: IG
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This article was translated by an automatic translation system, and was therefore not reviewed by people.