December 20, 2012 / 11:52 AM / in 5 years

Brazil to announce new airport investment program

2 Min Read

BRASILIA, Dec 20 (Reuters) - Brazil's President Dilma Rousseff will announce new private investment opportunities in airports on Thursday as the country races to unclog transportation bottlenecks before it hosts the 2014 soccer World Cup, her office said.

The overhaul of international airports is also part of Rousseff's push to address the many infrastructure woes choking growth in Latin America's biggest economy.

In February, the government awarded contracts to upgrade two airports in Sao Paulo state and the main airport in Brasilia for 24.5 billion reais ($11.8 billion). Since then Brazil has invited some $90 billion in private investment to modernize its roads, railways and seaports.

Rousseff is courting private capital just as some investors have begun to grow wary of her government's r ole in the economy.

A senior analyst for Fitch Ratings warned in September that Brazil's aggressive negotiation of energy rate cuts could spook foreign investors, for example, sapping appetite for concessions in other sectors.

$1 = 2.08 Brazilian reais Reporting by Caroline Stauffer Editing by W Simon

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