Lula Signs R$ 10.65 Billion BNDES Contracts for Novo PAC Mobility Projects, Including Metro Expansion and Electric Buses

Nov 29, 2024, 01:38 PM

Brazilian President Luiz Inácio Lula da Silva met with São Paulo Governor Tarcísio de Freitas and São Paulo Mayor Ricardo Nunes to sign contracts worth R$ 10.65 billion for urban mobility projects in the state. The agreements, which are part of the Novo PAC initiative, include plans for metro expansion, a new viaduct complex, a train connection between São Paulo and Campinas, and the introduction of electric buses. Lula emphasized the importance of economic policy in distributing opportunities to Brazil's 210 million citizens during a recent event focused on the industrial sector and Brazil's role in the global market. The Brazilian National Development Bank (BNDES) is providing the funding for these projects, which aim to enhance the infrastructure and mobility in São Paulo.