New investment in Ceará totals R$73.2 billion

New investment in Ceará totals R.2 billion

New investment in Ceará will total over R$73 billion as part of the national PAC package. The state will see major investment in infrastructural work, particularly roads and water supply. In addition, 8,200 new homes will be built as part of Brazil’s social housing programme.

New investment in Ceará

The Brazilian government recently announced the return of the national Growth Acceleration Plan (PAC in Portuguese), as well as additional investment. The programme has a budget of R$1.7 trillion, with a mixture of public and private funding.

The state of Ceará stands to receive R$73.2 billion from the pot, with infrastructure projects taking priority. The timeline for investment is for the bulk to arrive before 2026 and a smaller proportion afterwards.

Priorities in Ceará

The state government has pinpointed eight projects that will receive the new investment in Ceará. They include:

·         The conversion of the BR-116 into a dual carriageway road to Tauleiro do Norte.

·         An upgrade to the Fortaleza bypass.

·         A 608km extension of the Transnordestina highway.

·         The construction of the Lago de Fronteiras reservoir.

(Source: Casa Civil Brazilian Government)

In addition, the Ceará health system will receive an investment of R$1.3 billion and education will get R$21 billion.

The state governor, Elmano de Freitas, uderlined the economic and social impact of the investment in Ceará. “The new PAC is great news for the people of Ceará,” he said. “The R$73.2 billion investment will improve the lives of people in the state and is a result of the state government working hand-in-hand with the national authorities.”

Huge investment in Brazil

The latest update to the PAC contemplates investment to the tune of R$1.7 trillion in Brazil, with R$14 trillion due to arrive between now and 2026. The PAC focuses on sustainability, neo-industrialization and connectivity. Experts predict that it will create 4 million jobs, directly and indirectly.

President Lula da Silva celebrated the programme's return, a project his previous goverment introduced in 2007. “The role of the new PAC is to place all the nation's capacity at the service of the entire Brazilian population,” he said. “It seeks to unit the different parts of our society and economy to release their enormous potential for once and for all.”

(Source: Ceará government)