Rio de Janeiro state announces US$1.3 billion investment package over 3 years

Works long-awaited by Rio de Janeiro's residents may finally get off the drawing board thanks to the funds raised from the CEDAE concession award.

RIO DE JANEIRO, BRAZIL - The government of Rio de Janeiro today will announce a R$17 (US$1.3) billion investment package over 3 years. Most of this amount - approximately R$10 billion - was raised from the auction of the state-owned sanitation company CEDAE, held in April.

Among the more than 50 projects included in the so-called "Pacto RJ," to be detailed by governor Cláudio Castro (PL), are large-scale infrastructure works such as the creation of a 23-kilometer long surface subway line to cut through Baixada Fluminense, the collection of suburbs adjoining Rio de Janeiro . . .

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