Brazilian President Luiz Inacio Lula da Silva on Monday launched the second phase of his Growth Acceleration Program (PAC), a huge infrastructure program in the country. The program foresees investments of 1.59 trillion reais (883.3 billion U.S. dollars).

The so-called PAC 2 will focus the investments on urban infrastructure, sanitation, energy, security, housing, water distribution and transportation. According to government officials, the bulk of the investments, totaling 68.6 percent, will be directed to energy projects. The PAC 2 is to be carried out by the next administration as President Lula's second term ends in December 2010. The program foresees investments of 958.9 million reais (532.7 million dollars) from 2011 to 2014, and of 631.6 million reais (350.8 million dollars) from 2014 on.

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Posted by mopeng at March 29, 2010 1:19 AM