(All credits go to SECOM for this information)
President Luiz Inácio Lula da Silva announces US$ 526 billion in public and private investments over 2011-2014
Yesterday, Brazil launched phase two of the Growth Acceleration Program (PAC 2), announcing estimated investments of US$ 526 billion (R$ 958.9 billion) for the period from 2011 to 2014. PAC 2 includes new investment projects for the periods 2011 to 2014 and post-2014, as well as projects initiated during PAC 1 with activities that will conclude after 2010. For the period following 2014, the estimated investment is US$ 346.4 billion (R$ 631.6 billion). The two periods combined reach an amount of US$ 872.3 billion (R$ 1.59 trillion).
PAC is a strategic investment program that combines management initiatives and public works. In its first phase, launched in 2007, the program called for investments of US$ 349 billion (R$ 638 billion), of which 63.3% has been applied.
Similar to the first phase of the program, PAC 2 focuses on investments in the areas of logistics, energy and social development, organized under six major initiatives: Better Cities (urban infrastructure); Bringing Citizenship to the Community (safety and social inclusion); My House, My Life (housing); Water and Light for All (sanitation and access to electricity); Energy (renewable energy, oil and gas); and Transportation (highways, railways, airports).
“I consider PAC 2 as a portfolio of projects that the next administration can build from rather than starting from scratch, as there is no time to lose,” said President Luiz Inácio Lula da Silva during the announcement of the program.
PAC 2 Initiative in Detail...
Objective – Tackle the major challenges facing large urban areas to improve quality of life
Areas of Focus – Sanitation, crime prevention in high-risk areas, urban mobility, paving
Estimated investment (2011-2014) – US$ 31.3 billion (R$ 57.1 billion)
Objective – Increase the availability of State services in poorer districts
Areas of Focus – Emergency care units, basic health clinics, daycare and pre-school centers, school sports facilities, community police stations
Estimated investment (2011-2014) – US$ 12.6 billion (R$ 23 billion)
MY HOUSE, MY LIFE
Objective – Reduce the housing deficit, stimulate the civil construction sector, and generate jobs and income
Areas of Focus – “My House, My Life” program, SBPE financing (Brazilian savings and loans system), urbanization of informal settlements
Estimated investment (2011-2014) – US$ 152.5 billion (R$ 278.2 billion)
WATER AND LIGHT FOR ALL
Objective – Provide general access to water and electricity
Areas of Focus – “Light for All” program, water supply in urban areas, water resources
Estimated investment (2011-2014) – US$ 16.6 billion (R$ 30.6 billion)
Objective – Consolidate, expand and integrate logistics network to ensure quality and safety
Areas of Focus – Highways, railways, ports, waterways, airports, local roads
Estimated investment (2011-2014) – US$ 57.3 billion (R$ 104.5 billion)
Estimated investment (post-2014) – US$ 2.47 billion (R$ 4.5 billion)
Objective – Secure reliable supply of energy through a mix of clean, renewable sources; expand production of oil in pre-salt region
Areas of Focus – Electricity, oil and natural gas, shipbuilding, renewable fuels, energy efficiency, mineral research
Estimated investment (2011-2014) – US$ 255.3 billion (R$ 465.5 billion)
Estimated investment (post-2014) – US$ 343.9 billion (R$ 627.1 billion)
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