Brazil delaying key infrastructure projects

Brazil looks set to delay a number of key infrastructure projects until 2016. The Brazilian Federal Government's planned transport sector concession tenders will see investments close to US$46.58 billion in all. But these will be pushed back to 2016 due to the difficulty of launching all auctions in 2015 due to technical, economic and political limits. The tenders are revised versions of those promised previously. However only the airport tenders having been launched with success. Due to revisions in the plans, the technical studies are required to be updated for the majority of the projects. This in turn has led to delays. With approval from regulatory bodies and public consultations still required, this makes it difficult for the projects to be launched in 2015. The financing for the projects is also not yet secured, with BNDES not expected to maintain subsidised interest rates on financing for new projects.