The tender offer projects a total cost if 34.6 billion Brazilian reals ($19.5 billion) for the bullet train. Of this, BRL20 billion in financing will come from Brazil's National Development Bank, or BNDES, and BRL4 billion from import-export banks in supplier countries, leaving a little more than BRL10 billion for financing by private sources.
The auction will take place at Brazil's BM&FBovespa stock exchange in Sao Paulo on Dec. 16 and will be open to both domestic and foreign investors.
Brazil Sets Dec. 16 For Auction Of Bullet Train Concession
Automated Trader
July 13, 2010
