Empresa de Planejamento e Logística (EPL) Chairman Bernardo Figueiredo said this Monday that some adjustments should be done in high speed train (HST) auction terms, which will connect Campinas, São Paulo and Rio. Among the items to be changed are the leverage and the internal rate of return (IRR). – EPL intends to raise the leverage from the current 70% to 80%, following the indicated percentage for other railway projects. “We also want to increase the IRR,” he said, without mentioning what will be the new level. Yet he said he considers that 7% to 7.5% is “a good level.”
Figueiredo also stated that EPL should further explain issues relating to technology use. According to EPL chairman, the call for bids says that the winning bidder must provide approved technology, but allows the use of newer technology in the future. Project stakeholders raised the discussion about what technology they should propose, he said, explaining that the project should be prepared with the currently approved technology, “Because there is the risk that the latest should not be approved,” he added. Figueiredo said the planned changes should not result in a change of schedule. The EPL expects to publish HST call for bids in August and hold the auction in September.
Other Changes
EPL chairman reiterated that also for railway projects, the possibility of increasing the IRR is being evaluated. “These issues follow a logic, according to the risks involved in the project, rail presents more risks than highway, the HST is more risky than railways, it is necessary to seek consistency” he said, stating that the changes will be announced as soon possible. During a presentation at the Brazil-Germany Economic Meeting 2013, Figueiredo said the State Company still plans to launch the first calls for bids for the railway in July and conduct the auctions for the early stage of the investment program until December.
Note of RF – According to the schedule released by ANTT, submission of proposals is scheduled for August 13 and the auction for September 19, 2013.
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