Monday, September 17, 2012
State bank lends $457M for infrastructure at Brazil's northeast port
Brazil wants to bring more trade to its Northeast region, and intends to upgrade infrastructure around the area's port to the tune of $457 million via a loan from state development bank BNDES.
The loan, announced on Friday by BNDES, will be issued to the state of Pernambuco, where the Port of Suape is located.
"To attract investment and new business, earthwork, paving, drainage, road lighting and signaling in the Industrial Zone are planned," the BNDES statement said. "The loan will also be used to build bridges, viaducts ... and upgrade roads."
The Port of Suape is at the center of a new energy, petrochemical and shipbuilding center near the city of Recife. State-controlled oil company Petrobras, Bunge, Unilever, and Quebecor are companies with manufacturing or distribution facilities at the port complex.
For more of the Reuters story: reuters.com
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