Elizabeth Johnson

Managing Director, Brazil Research

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Highway concession auctions still in low gear

Overview

We expect the first projects of President Dilma Rousseff’s massive infrastructure privatization programme to finally come to the auction block in September after countless delays. The government has been forced to increase the project IRRs after intense dialogue with the private sector. But as we warned in our December note, these projects will have no impact on 2013 GDP growth and even if the auctions take place as scheduled in H2/13, these concession sales are also unlikely to...

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