São Paulo approves US$1.24bn waterworks, urban mobility funding

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Thursday, December 4, 2014

Brazil's federal government has authorized funding for water supply and urban mobility works in the state of São Paulo worth some 3.2bn reais (US$1.24bn), according to a cities ministry release.

Terms of commitments were signed Thursday, which releases funds for the projects. President Dilma Rousseff and cities minister Gilberto Magalhães Occhi were present at the signing ceremony in Brasília.

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WATERWORKS

Approximately 2.6bn reais was authorized for the state's São Lourenço water supply initiative, a public-private partnership being administered through state water utility Sabesp.

Sabesp will invest 261mn reais, 1.82bn reais is coming from federal savings bank Caixa and 523mn reais from private banks, the release said.

URBAN MOBILITY

A total of 634mn reais was approved for the expansion of Line No.9 of subway company CPTM in São Paulo city. Federal and state governments are providing 500mn reais and 134mn reais, respectively.