Brazil's privatizing agenda:
Electrobras, ports, expressways
The privatization of Eletrobras will deliver the company to the big banks and speculative funds, taking from the country an important instrument of public policy -CNE Coletivo Nacional dos Eletricitários.
Petroleumworld 07 23 2020
Privatizing Brazilian state power company Eletrobras is a priority for the government, the energy minister said on Wednesday. Brazil's government is also targetting eight port terminals and toll roads among assets to be privatized.
The privatization of Electrobras, would require the approval of Congress and faces an uphill political battle. Still, the possibility has caused brief rallies in its shares in recent years, Reuters reports.
“Within the Pro-Brazil agenda, it's one of the priorities,” Mines and Energy Minister Bento Albuquerque told journalists on Wednesday, referring to a federal government program to reignite growth amid the novel coronavirus pandemic. “It's a priority of the government.” report Reuters. targetting eight port terminals for liquid and solid bulk and 30 toll roads among assets to be privatized by 2022 under the Investment Partnership Program (PPI).
In the documents released Tuesday, the Mines and Energy Ministry requested 4 billion reais ($781 million) in its 2021 budget to create a separate state firm to hold some vestigial Eletrobras assets, should it be privatized.
Also in the government privatizing agenda are eight port terminals for liquid and solid bulk and 30 toll roads among assets to be privatized by 2022 under the Investment Partnership Program (PPI), Argus reports.
The government is seeking to raise at least R$2,6bn ($480mn) from the sales, but it has not yet defined the target values for all projects.
($1 = 5.12 reais)
Sources: Reuters and Argus Media