South Korean group eyes Brazil's Pequi railway concession
South Korean railway group A'REX has formerly expressed its interest in Brazil's multi-billion dollar Pequi railway project, a passenger train system that will run between the cities of Brasília and Goiânia.
However, the group is requesting adaptations to the 30-year concession model, requesting a public-private partnership that would involve a 3bn-real (US$968mn) contribution from the public sector, which would allay the South Korean group's fears about the economic feasibility of the passenger transport business, local paper Valor Econômico reported.
Although the project was previously estimated to cost 7bn reais (US$2.27bn), the overall investment, including civil works, rolling stock, and communication systems, could reach about 8bn reais, according to the report.
LATEST STUDIES
According to the latest studies, construction of the line was due to begin this year, with the railroad expected to be up and running in 2020. The 30-year concession was expected to see an internal rate of return of between 8.0% and 13.7%.
BNDES was reportedly planning to finance up to 80% of the project with a 12-year loan at an interest rate of 6.5% and with a two-year grace period for payments.
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