Brazil investments soar

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Some noteworthy new figures for predicted infrastructure spending in Brazil over the coming years have been revealed at a recent Spanish Chamber of Commerce event in Sao Paulo.

Abdib, the Brazilian Infrastructure Association, released it most recent research which forecasts that R804bn will be invested between now and 2014, across key areas including electricity, oil and gas, logistics, transport and sanitation. In 2010, R144bn was invested, according to Abdib's vice president, Ralph Lima Terra, who also pointed out that they predict R23bn will be spent in Sao Paulo alone in the lead up to the 2014 FIFA World Cup. Importantly, he alerted to the fact that while there is no shortage of money or excellence in engineering, they see a significant lack of labour, particularly at management level in both public and private organisations. The president of the Research and Urban Planning Institute of Curitiba, ClÉver Teixeira, added that there are too many groups and workers involved with monitoring and checking the progress and legality of works and just not enough people on the actual projects. Participants at the event also heard of how Spain is now the third biggest direct investor in Brazil, with global companies such as OHL, Santander, Iberdrola, and TelefÃ'nica leading the way.

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