Minister of Infrastructure Says Brazil Will Soon Regain Investment Grade
RIO DE JANEIRO, BRAZIL – Brazil is expected to regain soon its investment grade, a rating awarded by specialized rating agencies that ensure the inflow of greater foreign resources into the country. The Minister of Infrastructure, Tarcísio Gomes de Freitas, took part in a conference with Army officials, at Praia Vermelha, Rio de Janeiro, on Friday, August 9th.
“The key has turned, we have been recovering on all indicators, and we have already merited a rating grade reclassification by the rating agencies. I do not doubt that we are moving toward investment grade,” said the minister.
The minister mentioned the passing of the Social Welfare reform in the Chamber and the new concessions in infrastructure areas (ports, airports, railways, and highways) as favorable examples. According to him, all of this should attract additional foreign resources to the country.
In the railroad sector, for instance, there should be a significant increase in the volume of freight in the coming years. The minister pointed out projects and investments in transport on rails that should connect the country from end to end, with the inclusion of existing railway networks and others under construction. These projects should enable the flow of agricultural, industrial, and mineral production, with higher speed and lower costs.
“It is an increase in capacity that will drive the railroad transport share in Brazil from the current 15 percent to 29 or 30 percent in eight years. And then we will rebalance the network [of transportation], providing supply and lowering freight costs,” he said.
Tarcísio Gomes recalled the recent concession of two stretches of the North-South Railway, between Porto Nacional (Tocantins) and Estrela D’Oeste (São Paulo), awarded to the group Rumo SA. The railroad will connect the Port in Itaqui, Maranhão, to the Port of Santos in São Paulo, creating the backbone of the Brazilian railway network, which in the future will connect Rio Grande (Rio Grande do Sul) to Belém (Pará).
The minister also addressed the investments that will take place from oil field bids, the arrival of new airlines, and concessions in cabotage regulations. This internal and coastal navigation, currently restricted to Brazilian companies, should be open to international groups in the future.
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