Brazil: $69B in transport investments by 2014

AP News
Posted: Aug 14, 2012 1:24 PM
Brazil: $69B in transport investments by 2014

SAO PAULO (AP) — Brazil's president says her government will invest nearly $69 billion to improve transportation systems by the end of 2014.

In a weekly column released Tuesday, President Dilma Rousseff says the nation's infrastructure needs to be "expanded and modernized, because this will make Brazil more competitive."

There are big demands on Brazil to improve its transportation systems before the nation hosts the 2014 World Cup and the 2016 Olympics.

Brazil has long been beset by bottlenecks at its ports, railways, roadways and airports. Experts say that hobbles Brazil's economic growth by making it difficult and costly to get the nation's bountiful commodities to foreign markets.

Rousseff didn't provide details on the investment package. A formal announcement explaining the effort is expected on Wednesday.