brazilian official guide on investment opportunities

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Brazilian Official Guideon Investment Opportunities

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Federative Republic of Brazil

President

Dilma Rousseff

Minister of Development, Industry and Foreign Trade

Fernando Pimentel

Executive Secretary

Ricardo Schaefer

Secretary of Commerce and ServicesHumberto Luiz Ribeiro

Secretary of Production Development

Helosa Regina Guimares Menezes

President of the Brazilian Trade and Investment Promotion Agency

Maurcio Borges


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Dear Sir/Madam,

I am glad to present the Third Edition of the Brazilian Offi -cial Guide on Investment Opportunities. This publication is

aimed to demonstrate Federal, State and Local levels main

investment projects within the perspective of the Brazilian

strategy of economic strengthening and diversication.

Moreover, it is a timely opportunity for the Brazilian en-

trepreneurs become competitive and reduce costs. The

modernization of our legislation and business environ-

ment are key targets of our policies. For these reasons the

Brazilian Government is engaged in the largest infrastruc-ture program in our history.

Therefore, this is the right moment to launch the Third

Edition of the Brazilian Offi cial Guide on Investment Op-

portunities, as the country is currently going through an

outstanding period in its social and economic develop-

ment path, with rapid and sustained economic develop-

ment, based on production growth, soundness of scal

and monetary institutions, credit and consumption ex-

pansion and consistent drops in unemployment rate.

The preparation of this Guide had valuable support andguidance of several Federal agencies as well as State and

Local Secretariats of all Brazilian regions. I would like to

thank all of them for their engagement and cooperation

and also to invite qualied investors to bring modern

technology and high levels of expertise to upgrade our

capacity of competing globally.

I am sure that this initiative will consistently bring together

investors and entrepreneurs, helping them to identify ad-

vantageous opportunities and to encourage long termrelations with our commercial partners.

Fernando Pimentel

Minister of Development,

Industry and Foreign Trade


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Brazilian Offi cial Guide On Investment Opportunities

Foreword

This is the third edition of the Brazilian Offi cial Guide on Investment Opportunities, an unprecedented initiative implemented bythe Brazilian government that aim to supply both domestic and foreign investors with a numerous investment opportunities

in our country. This new version will include projects and opportunities in the local level, besides the federal and state level

information already included in previous editions. As a result, it now covers investment opportunities in innumerous segments,

such as energy, logistics, urban mobility, information technology, construction, tourism and many others.

This guide aims to support the decision-making of investors, featuring trustworthy, systematized and high-level information

on selected projects, enhancing the establishment of transparent and consistent dialogue channels between public and

private actors, which are of high relevance for the success of each undertaking.

Brazil is at the onset of a new investment cycle, based on concessions, private nancing and the participation of banksand investment funds. In 2012, the Brazilian government launched the Logistics Investment Program, one of the largest

concession programs in the last decades, designed on the basis of a strategic partnership with the private sector and

focused on the renewal and integration of the Brazilian transportation network. The Brazilian government will promote

concession auctions for large projects in innumerous segments, such as highways, railways, airports and ports. Also

programmed is the concession auction for the operation of the rst high-speed railway in Brazil. In the oil and gas sector,

the government will launch the 12th Bidding Rounds (in concession regime) and the 1st Bidding Round of the Pre-Salt Layer

(in production sharing regime). A series of auctions will also be carried out in the electricity sector.

The organization of this Guide was implemented by the Secretariat of Commerce and Services (SCS) and the Secretariat

of Production Development (SDP), through the Brazilian Investment Information Network (Renai), under the Ministry of

Development, Industry and Foreign Trade (MDIC), the Brazilian Trade and Investment Promotion Agency (Apex-Brasil) andwith the support of the Ministry of External Relations (MRE) - assisting the dissemination of this publication abroad. Other

players involved were the Ministry of Finance, the Ministry of Planning, Budget and Management (MPOG), the Ministry

of Mines and Energy (MME), the Brazilian Logistics & Planning Company (EPL), the Executive Secretariat of the Growth

Acceleration Program (SEPAC), the National Land Transportation Agency (ANTT), the Brazilian Electricity Regulatory Agency

(ANEEL), the National Agency of Petroleum, Natural Gas and Biofuel (ANP), the National Agency on Telecommunications

(ANATEL), the Secretariat of Civil Aviation (SAC/PR), the Secretariat of Ports (SEP/PR), the State Secretariats for Economic

Development in coordination with the National Council of State Secretaries of Development, Industry and Trade (CONSEDIC)

and the National Front of Mayors (FNP).


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Why Brazil? 11

Investor Support Institutions 19

RENAI | Brazilian Investment

Information Network 20

APEX-BRASIL | Brazilian Trade and

Investment Promotion Agency 21

Investment Opportunities at Federal Level 23

Generation and Transmission

of Electrical Power 25

Telecommunications 39

Oil and Natural Gas 42

Logistics Investment Program (PIL) 48

Logistics and Transportation - Highways 48

Logistics and Transportation Railways 61

Logistics and Transportation Ports 80

Logistics and Transportation Airports 86

Investment Opportunities at

State and Local Levels 95

8

Index


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Acre 98

Alagoas 101

Amap 102

Amazonas 103

Bahia 106

Cear 109

Distrito Federal 113

Esprito Santo 118

Gois 121

Maranho 126

Mato Grosso 141

Minas Gerais 147

Par 157

Paraba 161

Paran 167

Pernambuco 173

Piau 186

Rio de Janeiro 188

Rio Grande do Norte 194

Rio Grande do Sul 201

Rondnia 206

Roraima 208

Santa Catarina 210

So Paulo 212

Sergipe 240

Tocantins 241

Projects brieng 257

Projects by States 258

Projects by Value 278

Projects by Sector 298

Useful Links 318

Technical Staff 319

Contact info 331

9


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Why Brazil?

Brazil is the seventh economy in the world with a Gross Domestic Product (GDP) of US$ 2.4 trillion amounting to nearly 50%

of Latin American economy. Brazil has a large and fast growing consumer market, comprising 201 million people1. From

2003 to 2012, real GDP increased by 41 percent, real total wages by 65 percent and domestic retail sales by 119 percent. Itwas a period of consolidation for the domestic market, based on income growth and social inclusion. It has a privileged

location in the east-central part of South America, where it borders almost all other South American countries, allowing

companies to easily access Latin American and African markets.

Some of the Countrys main competitive advantages are:

Leading regional economy

Secure investment framework

Huge domestic market

Global player

Innovative hotbed World-class workforce

Major infrastructure projects

Energy and Agricultural powerhouse

Gateway to Latin America

Stable economic growth with social sustainabilityThe accumulated GDP growth in the last 3 years was 11.1%, and the evolution pattern shows a trend of stable growth, with

an annual average of 3.5% over a ve years period (2010-2015). The government stimulus measures after the world crisis

in 2008 have shown signicant results, and have been strengthened further to increase GDP growth in upcoming years.

GDP average growth (%)

The solid Brazilian economic basis has led the country to a development cycle, with growth in Gross Domestic Product

(GDP), robust foreign reserves, a stable nancial system, and a sustainable labor market that ensures dynamic domestic

demand and signicant social gains. It is important to highlight the reduction in social inequality and unemployment rate

20 million jobs were created from 2003 to 2013.

c

r

I . u e s l.

r r i . r c s ed n I

I

1 Source: Brazilian Institute of Geography and Statistics -IBGE.


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Reduced costs for investmentThe Government has put in place several measures aiming to reduce investment costs, among which the following stand out:

Additional Highlights

Leader in clean renewable energy

Home to the world s largest biodiversity

A global reference in the production of biofuels

Host to the 2014 World Cup and the 2016 Olympics

2nd largest market for ATMs 3rd main market for biodiesel

3rd largest market for personal computers and for beauty & healthcare products

3rd main aircraft producer and top producer of models seating up to 120 passengers

4th largest market for cell phones, automobiles and TV sets

5th largest market for medical equipment

10th largest industrial producer

13th largest producer of scientic articles

Average of 12,000 PhD and 41,000 Master degrees granted annually from Brazilian universities

Home to the worlds 15th largest oil reserves

75,000 new government scholarships for Brazilians to study abroad to be granted by 2015

60% of all R&D investment in Latin America is allocated in Brazil

161 tech parks in operation

88.8% of the Brazilian electricity energy matrix is renewable

r e:

c t o , ra ilii

,i t y n ,i

r i


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Investor

SupportInstitutions


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RENAI | Brazilian InvestmentInformation Network

The Brazilian Investment Information Network (RENAI) is part of the Ministry of Development, Industry and Foreign Trade.

It works in close cooperation with state governments across Brazil. Its main objective is to provide information aboutgovernment programs, legislation and projects to local and foreign investors.

RENAI has three primary objectives:

a. Introduce and clarify government programs, regulations and projects

to potential investors and established companies in Brazil;

b. Address private sector demands to the federal and state governments in order to

improve the business climate through policy improvements and adjustments; and

c. Stimulate and assist state governments to foster investments in Brazil

as a pathway to economic and social development.

To achieve its objectives, RENAI operates an extensive online database of government investment projects across Brazil

which encompasses federal, state and municipal initiatives such as concessions and Public-Private Partnerships (PPPs).

RENAI also organizes workshops and seminars in Brazil to disseminate a culture of investment attraction in the country. The RENAI

team systematically and continuously surveys announced investment projects and makes them available in an online database. It

provides detailed information about these investments according to company, state and economic sector.

It also takes part in international investment agreement negotiations and is responsible for organizing investment missions

abroad for the Minister of Development, Industry and Foreign Trade, as well as for hosting investors wishing to negotiatedirectly with the Brazilian government.

RENAI, in conjunction with several secretariats within the Ministry of Development, Industry and Foreign Trade, also aims to

identify supply-chain gaps to foster foreign investment attraction campaigns carried out by Apex-Brasil and other federal

entities.

To learn more about RENAI, please access its website: www.mdic.gov.br/renai


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APEX-BRASIL | Brazilian Trade andInvestment Promotion Agency

Apex-Brasil s services to help you do business with BrazilApex-Brasil promotes investment opportunities to attract foreign investors to Brazil. The Agency focuses on companies andprojects that offer technological innovations and new business models, strengthen industrial supply chains, have a direct

impact on national job creation and improve the volume and diversity of Brazilian exports.

The Agency is prepared to assist in all steps of the investors decision-making process. Her service portfolio ranges from

identifying and contacting potential investors for a particular industry segment to supporting a future investor in its

understanding of Brazil. APEX-Brazil prepare analysis covering industry sectors and markets, economic trends, and general

guidelines on legal and scal matters, and provide information on input costs, suitable locations and talent pool availability.

Using an extensive network of companies, associations and authorities, Apex-Brasil also acts as liaison between potential

partners, key suppliers and regulatory and local authorities.

The current priority sectors are:

Automotive

Aerospace and Defense

Environmental Solutions (includes renewable energy)

Life Sciences

Oil and Gas

Real Estate

Research and Development

Semiconductors and Displays

The Agency also supports foreign investors willing to identify local companies, universities and research centers to establish

partnerships, joint-ventures or other types of collaboration. Moreover, Apex-Brasil can help capital investors and in the

process of identifying opportunities, projects and companies for venture capital and private equity investments in the

country.

Apex-Brasil has assisted investors and industries from numerous countries in setting up new facilities, and has played a key

role in directing investments to Brazil.


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InvestmentOpportunities

at FederalLevel


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MainTL Pr oject s tobeAuc tionedin20132

ndsemest er2013- t rans mis s ionlines( EPEproposal)

Estim ate dI nves tm ento fUS$ 2.4 billi on( *)

So urc e: Ener gyRe sea rchO ffi ce(E PE)P rodu ced by :M inist ryof Fin anc e

* Incl udes est imat ed inves tm ent insu bst ation s

In the rs thal fof Sept em ber2 013 ,th eav erag eex cha nge rat ew asap pro xim atel yUS $1 =R $2. 30

As soc iat edPr oje ct s P roje cts Stat eVol tag e(k V)

Le ng th(Km )

Inv est m ent(U S$b illi on)

To m eete lec tric ityd em and gro w th M G5 0090

0.1 GO2 3068 RS2 3050

Ex pan sio nS/ SE 50039 00 .2

Ex pan sio nbe for eB eloM on te

SP5 0037 0

0.3 SP5 0019 8 SP5 0024 0

Ex pan sion of theI nte rcon nec tion N /SE 8002 ,05 01 .3

To m eete lec tric ityd em and gro w th

M A2 3014 0

0.3

M A2 3078 PA2 3012 0 M A2 3011 1

M A2 3095 GO2 3088

In teg rati ono fis olat eds yst em s AC2 3035 70 .2 AC2 3030 0

To tal 4,7 45 2. 4


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HPP - Hydro Power Plant

ANEEL -National Electricity Agency

Source: Energy Research Office (EPE)Produced by:Ministry of Finance

Main technical requirements for participation in the electricity auctions

TypeANEEL

Registry

PriorEnvironmental

License

AccessInformation

EnergyProduction

Certication

Proof ofRight of Local

Use

Proof ofAvailability

WaterUse Grant

Wind Power

PlantX X X X X

Hydroelectric

Plant (HPP and

small Hydro)

X X X X

ThermoelectricPlant (Biomass

and fossil)

X X X X X X


Electricity Auctions

Modalities New Energy Auctions A-3 and A-5: servicing expected demand growth

Reserve auctions: ensuring greater security of supply

Structuring Project Auctions: special conditions

Bidders Public or private companies

National or foreign companies

Winners Lowest bid

Winners of the new energy auctions sign long-term contracts (15 to 30 years) with distributors andreceive concessions (in the case of hydropower plants)

Indexation

IPCA (Consumer Price Index)

Financing

Use of the PPA (Power Purchase Agreement) as collateral for project financing by the BNDES

Risk mitigation

Only projects with prior environmental licenses are auctioned off


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BNDES FINEM (Financing to Enterprises) Financial Aspects

Hydro Power Plant(HPP)

Thermal Power Plant(TPP)

Wind, Biomass andSmall Hydro

Leverage: up to 70%; Amortization period: up to 20years; Grace period: up to 6 months aftercommercial operation date; risk spread.

Leverage: up to 70% (60% coal), Amortization period: up to 16 years; Grace period: up to 6 months aftercommercial operation date; risk spread.

Leverage: up to 80%, should Amortization period up to 20 years(16 years for wind); Grace period: up to 6 months aftercommercial operation date; risk spread.

* DSCR: debt service coverage ratio

** TJLP: Long Term InterestTax, currently 5.0%

Source: National Bank of Economicand Social Development(BNDES) Consultation in Jan/2013

Produced by:Ministry of Finance

Main nancial requirements forparticipating in electricity auctions and for signing power contracts

Bid guarantees due to ANEEL

For each project eligible to participate in the auction, bidders must submit bid guarantees due to ANEEL

1. For Projects without grants: 1% of the investment value2. For Projects with grants: US$ 870 per lot of energy to be offered (1 lot = 0.1 average MW)

Assurance of Faithful Execution of Contract

Average MW (MWm) Energy Unit

(8,760 MWh over an yearly period)

Source: Energy Research Office (EPE)




In the rst half of September 2013,

the average exchange rate wasapproximately US$ 1 = R$ 2.30

Type

Projects able to bid Auction Results

Bid Capacity

(MW)

Number of

ParticipantsBid Capacity (MW)

Number of

Participants

Total Amount

(US$ million)

Wind Power Plant 8,999 377 1,505 66 2,373

Type

Projects able to bid Auction Results

Bid Capacity

(MW)

Number of

Participants

Bid Capacity

(MW)

Number of

Participants

Total Amount

(US$ million)

Biomass 919 16 647 9 815

Coal 1,840 3 - - -

HPP (less than 50 MW) 376 16 219 9 586

HPP SINOP 400 1 400 1 773

Total 3,535 36 1,266 19 2,174

Number of Auctions Projects Capacity (MW) Investment (US$ billion)

23 490 60,892 100


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the average exchange rate was

approximately US$ 1 = R$ 2.30

AuctionHydropower

Plant River/StateCapacity

(MW)

Total Capacity

(MW)

Estimated Investments

(US$ billion, constant prices, Dec/2012)

2014

Davinpolis 74

7,495 11.3

Foz do Piquiri 93.2

Ercilndia 87.1

6,133

gua Limpa 380

Comissrio 105

Foz Piquiri 101

109

Paranhos 63

350

2015

2,336

3,249 5.4Castanheira 192

Itapiranga 721

2016 408

1,117 2.3Bem Querer 709

2017

Riacho Seco 276

8,407 13.7

Salto Augusto Baixo 1,461

S. Simo

3,509

Pompeu 209

Marab 2,160

Prainha 792

20,268 32.7






TypeProjects able to bid

Bid Capacity (MW) Number of Participants

Wind Power

Plant

15,042 629

Solar 2,838 119

Small Hydro 295 16

Biogas 39 2

Biomass 504 15

Natural Gas 469 2

Total 19,187 783

AuctionHydropower

PlantRiver/State

Capacity

(MW)

Total Capacity

(MW)

Estimated Investments

(US$ billion, constant

prices, Dec/2012)

2013

So Manoel 700

1,021 1.8Cachoeira 63

Ribeiro Gonalves 113

Itaocara 145


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The development of bioelectricity in Brazil

To be contracted in 2013-2017 auctions

0

2,000

4,000

6,000

8,000

10,000

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

1,755

2,584 2,590

3,910

4,969

6,822

7,874 8,081

8,936 9,035 9,035 9,085 9,185

MW

Capacity

(MW)Investment(US$ billion)

2,513 2.4






The development of wind power in Brazil

Operating and contracted capacity

To be contracted in 2013-2017 auctions

0

2000

4000

6000

8000

1000010,130

8,846

7,882

5,197

2,1891,750

1,417927

607337248237292322

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

MW



Capacity

(MW)Investment(US$ billion)

4,215 7.7


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Transmission Line Auctions

Bidders

National or Foreign alone or in a consortium

Clearance



Other energy sources to be contracted in 2013 2017 auctions

Small hydropower plants

Additional expansions depend on the effective exploration of unconventional gas

Thermal power stations

Capacity

(MW)

Investment(US$ billion)

1,500 1.3

Capacity

(MW)

Investment(US$ billion)

1,000 2.6





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-2.8

Public Notice of Auction

ANEEL approval of technicalcapacity of the winners of the auction

TL Auction Winners deliverdocumentation to ANEEL

Celebration of concession contractbetween winner and ANEEL

-2.8

Auction held at BM&FBOVESPA

Approval of Auction Results

Auction application and bid

guarantees due to ANEEL Accepted bid guaranteeinstruments: cash deposit,surety bond, bank guarantee,Brazilian Government Bonds(1% of estimated investment)

Replacement of bid guaranteeswith the guarantee of faithfulexecution of the contract(5% of estimated investment)

Access to financing available to national and international companies with head offices andmanagement in Brazil, and legal entities of public law

up to 70%

up to 14 years

up to 6 months after commercial operation date.


*TJLP: Long Term Interest Tax,

currently 5.0%

BNDES FINEM (Financing to Enterprises) Financial Aspects


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Physical Description Goals Connects the Northand Southeast Region, with DC Linkbetween the states of Par and MinasGerais

2,050 km on Direct Current 2,244 km on AlternatingCurrent

Promotes interconnection between two majorsubsystems, enabling the exchange of electricitybetween regions North and Southeast.

Increase of 4,000 MW in exchange capacitybetween the North and Southeast Regions

Financial Aspects

30 years

US$ 2.6 billion

Project Requirements

800 kV

thelowest RAP (AllowedAnnual Revenue)

(2)

(2)

800 KV DC2,050 KmBipole 1

500 KV AC2,244 Km

Terminal Minas

TOCANTINS

Miracema

Colinas

Itacanas

MATO GROSSO

GOIS

Paraupebas

PAR

MARANHO

Xingo

Picuru




and National Electricity Agency(ANEEL)Produced by:Ministry of Finance

15 (includes state-owned companies, private groups, 4 foreign groups,and equity funds)

3,822 Km

US$ 1.7 billion

21.7% for example, in 500 kV Estreito - Itabirito transmission line auction, therewere 305 bids that resulted in a 16.6% discount

* current values

**TL Transmission Line




Consolidated results of auctions from 2000 to 2012

Number of Auctions Length (km)Investment

(US$ billion) (*)

24 51,000 13.9


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Main TL Projects to be Auctioned in 20132ndsemester 2013 - transmission lines (EPE proposal)

Estimated Investment of

US$ 2.4 billion (*)


* Includes estimated investment in

substations



Associated Projects Projects StateVoltage

(kV)

Length

(Km)

Investment

(US$ billion)

To meet electricity demand growth

MG 500 90

0.1 GO 230 68

RS 230 50

Expansion S/SE 500 390 0.2

Expansion before Belo Monte

SP 500 370

0.3 SP 500 198

SP 500 240

Expansion of the Interconnection N/SE 800 2,050 1.3

To meet electricity demand growth

MA 230 140

0.3

MA 230 78

PA 230 120

MA 230 111

MA 230 95

GO 230 88

Integration of isolated systems AC 230 357 0.2

AC 230 300

To ta l 4 ,7 45 2 .4

Associated Projects Projects State Voltage (kV) Length (Km) Investment (US$ billion)

demand growth

PA 230 64

1.0

PA 500 59 PA 230 79 PA 500 116 500 30 230 120 MG 230 135 MG 230 61 MA 500 107 500 100 500 235 SP 440 142 500 158 RS 230 205 GO 230 88 230 95 MS 230 85 PR 230 50 230 275 500 30 230 60 PA 230 63 PA 230 185 PA 230 195

PA 230 130 230 137 BA 500 280 RN 500 250 RN 500 64 RN 230 68

500 120

0.1 PR 230 35

500 348 0.3 500 350

800 KV CC 2,575 1.7

SP 440 52

0.3 500 340 500 660

ND 2,700 2.6Receptor sustem reinforcement ND ND 1,000Total 11,846 6.0



Main TL Projects to be Auctioned from 2014 to 2017

Estimated investmentUS$ 6.0 billion

(including substations)

In the rst half of September 2013,the average exchange rate was



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Lots Projects Description StatePeriod

(months)Length (Km) Power (MVA) Date of need

Estimated Investment(US$ million)

A

Expansion of North-Southeast andNorth-Northeast Interconnections and

Reinforcements of the transmission system

Estimated

iba - Bateias, 390km;

SE Santa Brbara DOeste 440kV, Static Var

SE Itatiba 500kV, Static Var Compensator

as (new) - 1200MVA

SPPR

42 856 1200

630.7

BExpansion of the North-Southeast and

North-Northeast Interconnections MG-SP 36 373 - 235.0

CStructural Reinforcement for the Service tothe Metropolitan Region of Belo Horizonte

MG 36 85 - soon as possible 46.6

DStructural Reinforcement to the Itapaci

Region GO 30 69 - soon as possible 13.0

E

Dimensions of the ICGs referring to theAeolian Generator Centers from 2011 A-5and Reinforcements in the Basic Network

in the States of Cear, Rio Grande do Norteand Bahia

Fortaleza II - C2 - 2x1km;

SE Ibiapina II - 230kV - 450MVA brandnew yard;

CE36 222 750 127.0

FElectrical Service to the Metropolitan

Region of Curitiba and the Coast

Pilarzinho - CCPR - 2x2,5km

PR 30 38 300 30.1

Transmission Auction N 07/2013 Estimated investmentUS$ 1.7 billion

Transmission Auction N 07/2013

and Acre. Overall, 17 lots will be auctioned.

Source:ANEEL -National Electricity

Agency

Produced by:Ministry of Development,Industry and Foreign Trade


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Lots Name Description StatePeriod

(months)Length (Km) Power (MVA) Date of need

Estimated Investment(US$ million)

GSupply to the Loads of the Regions of

yard in138kV;

PA 30 138 600 59.5

HSupply to the Loads of the Region of

Almeirim, in the State of Par

brandnew yard;PA 24 - 60 8.2

I

Electrical Service to the State of Rio Grandedo Sul - Central and East Regions and of

Service to the State of S anta Catarina - EastRegion

brandnew yard in 138kV;

RSSC

30 244 316

96.0

for the Systems of Guanhes and Ipatinga -West area of Minas Gerais

MG 24 - 285 32.1

K

Interconnected System

- 2 x 150MVA; MS 24 - 300 15.6

L Loads from the Sub-region of Machadinho

do Oeste

RO 24 - 50 8.0

Transmission Auction N 07/2013 Estimated investmentUS$ 1.7 billion

Lots Name Description State Period(months)

Length (Km) Power (MVA) Date of need Estimated Investment(US$ million)

M

MA 30 316 200 soon as possible 71.0

NIntegration of Cruzeiro do Sul to the

Interconnected System

AC 36 657 90 158.0

O

Dimensions of the ICGs referring to theAeolian Generator Centers from 2011 A-5and Reinforcements in the Basic Network

in the States of Cear, Rio Grande do Norteand Bahia. Estimated

ICG Aracati III;

CE 22 65 300 31.0

P

x100 MVA;

- CD;

SPMS 24 20 600 soon as possible 68.9

QReinforcements to the Electrical System in

the Coast of So Paulo

27 km;

133 MVA;

SP 36 54 798 53.3

3,137 5,849 1,684.1

Transmission Auction N 07/2013

Source:ANEEL- National Electricity Agency

Produced by:Ministry of Development, Industry and

Foreign Trade

In the rst half of September 2013, the average

exchange rate was approximately US$ 1 = R$ 2.30

Estimated investmentUS$ 1.7 billion


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Project Name Transmission Auction No. 07/2013

Project Description

Auction for the public hiring of electrical energy transmission in the States of SoPaulo, Minas Gerais, Gois, Cear, Paran, Par, Rio Grande do Sul, Santa Catarina, MatoGrosso do Sul, Rondnia, Piau and Acre. Overall, 17 lots will be auctioned.

LOTS:

a. Expansion of North-Southeast and North-Northeast Interconnections and Reinforcements of thetransmission system of the Southeast region Pr-Belo Monte. Estimated value: R$ 1,450.65 million

b. Expansion of the North-Southeast and North-Northeast Interconnections. Estimated Value: R$ 540.58 millionc. Structural Reinforcement for the Service to the Metropolitan Region

of Belo Horizonte. Estimated Value: R$ 107.14 million

d. Structural Reinforcement to the Itapaci Region. Estimated Value: R$ 29,79 million

e. Dimensions of the ICGs referring to the Aeolian Generator Centers from 2011 A-5 and Reinforcements in theBasic Network in the States of Cear, Rio Grande do Norte and Bahia. Estimated Value: R$ 292.10 million

f. Electri cal Service to the Metropolitan Region of Curitiba and the Coast. Estimated Value: R$ 69.15 million

g. Supply to the Loads of the Regions of Paragominas and Tom-Au, inthe State of Par. Estimated Value: R$ 136.95 million

h. Supply to the Loads of the Region of Almeirim, in the State of Par. Estimated Value: R$ 18.94 million

i. Electri cal Service to the State of Rio Grande do Sul - Central and Eastern Regions and ofService to the State of Santa Catarina - East Region. Estimated Value: R$ 220.74 million

j. Transmission/Dis tribution Reinforcement for the Systems of Guanhes and Ipatinga

- Western area of Minas Gerais. Estimated Value: R$ 73.92 million

k. Transmission Expansion Integration of UTE Ivinhema / MS to the NationalInterconnected System. Estimated Value: R$ 35.99 million

l. Supply via SE Jaru Integration of Isolated Loads from the Sub-re gion ofMachadinho do Oeste. Estimated Value: R$ 18.41 million

m. Supply to the North eastern/Southern areas of Maranho, Northeas t area of Tocantins andNorthwestern/Southwestern areas of Piau. Estimated Value: R$ 163.32 million

n. Integration of Cruzeiro do Sul to the Interconnected System. Estimated Value: R$ 363.49 million

o. Dimensions of the ICGs referring to the Aeolian Generator Centers from 2011 A-5 and Reinforcements inthe Basic Network in the States of Cear, Rio Grande do Norte and Bahia. Estimated Value: R$ 71.21 million

p. Transmission Reinforcement for Loading Relief in the 440/138 kV Transformationof Substation Jupi. Estimated Value: R$ 158.44 million

q. Reinforcements to the Electri cal System in the Coast of So Paulo. Estimated Value: R$ 122.66 million.

Additional Information

Observations:

1) Estimated Return Rate for Auction No. 07/2013: 4.6%

2) In the Transmission Auction, the company presenting the lowest Allowed Annual Revenue wins.

3) The Maximum Allowed Revenue is determined from the estimated investment to the Lot.

The auction proceedings and transmission grant agreements may suffer small alterations ateach Notice, but, overall, they have been established consistently throughout the years.

Location of the ProjectSo Paulo, Minas Gerais, Gois, Cear, Paran, Par, Rio Grande do Sul, SantaCatarina, Mato Grosso do Sul, Rondnia, Piau and Acre

Website of the Project http://www.aneel.gov.br/area.cfm?idArea=54&idPerl=5&idiomaAtual=0

Related Sectors Gas and Electricity (CNAE 35)

Overall Project Value BRL 3.870.000.000 USD 1,682,608,695.65

Expected Return Rate 4.6Hiring Model Bidding

Type of Investment Public and Private

Period/Timeframeof cooperation

30 years

ScheduleThe Auction Notice is expec ted for October.

The Auction No. 7/2013 is scheduled to take place on November 14th, at BM&F Bovespa in So Paulo.

Name of the Institution ANEEL Brazilian Electricity Regulatory Agency

Address SGAN 603 m dulo J 70830110


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State of the Institution Distrito Federal

City of the Institution Braslia

Website of the Institution,in Portuguese

http://www.aneel.gov.br/

Website of the Institution,in English

http://www.aneel.gov.br/?idiomaAtual=1

Coordinator Special Bidding Committee

Telephone +55 (61) 21928755

E-Mail [email protected]

Project Name

Bidding process for granting the right to use radio frequency blocks in the range of 300 MHz, 400 MHz and

800 MHz, associated with the operation of the Specialized Mobile Service (EMS) or performance of the Private

Limited Service (SLP).

Project Description

The bidding process aims at granting the right to use radio frequency blocks in the range of 300 MHz, 400MHz and 800 MHz, associated with the operation of the Specialized Mobile Service (EMS) or performanceof the Private Limited Service (SLP). This bidding process is under development and seeks to allow theentry of small and medium-sized telecommunications service providers, increasing the offer of servicesto the population, in addition to expanding the spectrum for those that already have authorizationfor service provision. T he General Telecommunications Law LGT, Law no. 9.472, dated July 16, 1997,allows the authorization to use radio frequencies for up to 20 years, which may be renewable.


Preliminary studies for the formulation of the invitation to bid are in progress and will provide,as a result, the calculation of the minimum price to be practiced in the bidding process.Preliminary studies for the formulation of the invitation to bid are in progress and will establishthe calculation of the rate of return expected for the radio frequency range to be bid.

Project Location Nationwide.

Project website http://www.anatel.gov.br

Related sectors ICT - Information and communication Technologies (NACE 58-63)Overall Project Value N/A

Expected Return Rate N/A

Hiring Model Bidding



Being prepared.

Schedule Being prepared.

Name of the Institution National Telecommunications Agency (Anatel)

Address SAUS, Quadra 6, Blocos C, E, F e H, Asa Sul, Braslia/DF, CEP. 70.070-940


City of the Institution BrasliaWebsite of the Institution,

in Portuguesehttp://www.anatel.gov.br


N/A

Coordinator Regulation Management (PRRE) of the National Telecommunications Agency (Anatel).

Phone +55 (61) 23122529

Email [email protected]

Telecommunications


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Project Name Bidding process to grant the Right to Exploit Brazilian Satellite

Project Description

The bidding proce ss seeks to e xpand the exploitation of Brazilian satellite and ensure the useof radio frequencies and orbital positions in the coordination process within the InternationalTelecommunication Union (ITU) in Brazil . The bidding process will enable the in creasing of the Braziliansatellite capacity to meet the current and future demands in the telecommunications sector.


Preliminary studies for the formulation of the invitation to bid are in progress and will provide,as a result, the calculation of the minimum price to be practiced in the bidding process.Preliminary studies for the formulation of the invitation to bid are in progress and will provide,

as a result, the calculation of the rate of return expected for the right to be bid.



Related sectors ICT - Information and communication Technologies (NACE 58-63)

Overall Project Value N/A

Expected Return Rate N/A




Being prepared.






Website of the Institution,

in Portuguesehttp://www.anatel.gov.br


Not applicable


Phone +55 (61) 23122529



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Project NameBidding process for Granting radio frequency ranges in the sub-band of 700 MHz (digital dividend) for the

provision of telecommunications services.

Project Description

Bidding process for Granting radio frequency ranges in the sub-band of 700 MHz (digital dividend) for theprovision of telecommunications services. This biding process is under development and seeks to expandthe availability of radio frequency spectrum for the provision of telecommunications services that requirewireless networks. The General Telecommunications Law LGT, Law no. 9.472, dated July 16, 1997, allows theauthorization to use radio frequencies for up to 20 years, which may be renewable only once for equal period.Traditionally, the authorization to use radio frequencies has b een granted for perio ds of 15 years. The provision of

most telecommunications services in Brazil requires prior authorization from the National TelecommunicationsAgency (Anatel), being governed by the rules of free market and minimal intervention in the economic activity.




Related sectors ICT - Information and communication Technologies (NACE 58-63)

Overall Project ValuePreliminary studies for the formulation of the invitation to bid are in progress and will provide,as a result, the calculation of the minimum price to be practiced in the bidding process.

Expected Return RatePreliminary studies for the formulation of the invitation to bid are in progress and will provide, asa result, the estimated calculation of the rate of return expected for the service provision.




Autorization of the use of radio frequency for until 15 years






Website of the Institution,in Portuguese

http://www.anatel.gov.br

Website of the Institution,

in EnglishNot applicable


Phone +55 (61) 23122529



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Oil and Natural Gas

The 1st Production Sharing Bidding Round and The 12th Bidding Round will be held and coordinated, in its internal phase,

by the Bidding Superintendence and held, in its external phase, by a Special Bidding Commission, hereafter referred to as

CEL, appointed by Decree of ANP.

The CEL of the 1st Production Sharing Bidding Round was instituted by Decree ANP no. 161/2013, published in the Official

Gazette on July 24, 2013.

The assignments of the CEL in the tender of blocks located in the pre-salt polygon and in strategic areas under the regime

of production sharing are laid down in Resolution ANP no. 24/2013. The operation of the Commission is regulated in its

Internal Rules, published in the Bulletin of Special Personnel, no. 54, of September 12, 2007.

The block on offer in the First Production Sharing Tender was selected in Santos Basin, in the pre-salt polygon for hiring

the activities of exploration and production of oil and natural gas, aiming for expanding the Brazilian reserves and theproduction of petroleum and natural gas and extending the knowledge about the pre-salt polygon.

The CEL of the 12th Bidding Round was instituted by Decree ANP no. 181/2013, published in the Official Gazette on August

23, 2013. The assignments of CEL are laid down in Resolution ANP no. 27/2011. The operation of the Commission is regulated

in its Internal Rules, published in the Bulletin of Special Personnel, no. 54, of September 12, 2007.

The 12th Bidding Round should offer 240 exploration blocks, distributed in seven sedimentary basins, being:

I. 110 exploration blocks in New Frontier areas in the Basins of Acre, Parecis, So Francisco, Paran and Parnaba; and

II. 130 exploratory blocks in Mature Basins of Recncavo and Sergipe-Alagoas.

Source: National Agency of Petroleum, Natural Gas and Biofuels.


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Source: National Agency of Petroleum,Natural Gas and Biofuels (ANP) and

Ministry of Mines and Energy (MME)


Areas with potential for non-conventional resources

Oil and Gas in Brazil

Sedimentary Basin

Tacutu

Solimes

AcreMadre de Dios

Amazonas

Alto Tapajs

Parecis

Pantanal

Paran

Camamu-Almada

Parnaba

Barreirinhas

Bananal

SoFrancisco

Recncavo

Amazonas River Mouth

Par-Maranho

Potiguar

Rio do Peixe

Pernambuco-Paraba

Sergipe-AlagoasTucano

Esprito Santo

Campos

Santos

Source: National Agency of Petroleum,

Natural Gas and Biofuels (ANP) andMinistry of Mines and Energy (MME)


Brazil Pre-Salt layer Bidding under production sharing regime

Pre-SaltBoundaries

Estimated RecoverableVolumes

Libra8 to 12 bi boeFranco

2.0 to 5.5 bi boe

Florim0.1 to 0.4 bi boe

Sul de Guar0.1 to 0.3 bi boe

Peroba1.1 to 1.8 bi boe

South and NE of Tupi0.5 to 0.7 bi boe

Iara Surroundings0.6 to 0.8 bi boe

Lula8.3 bi boe

Iara3 to 4 bi boeSapinho

2.1 bi boe

Po de Acar1.2 bi boe

Parque das Baleias1.5 to 2 bi boe

Rio de Janeiro

So Paulo

Espirito Santo

Proved Reserves(2012): 18.2 bi boe

Granted area: 42 thousand sq km (28%)

Cession area: 3.74 thousand sq km (2,5%)

Estimated Volumes (06/2013)28.5 to 39.1 billion boe

At the Pre-Salt evaluated areas, expected recoverable volumes could reach twice theactual proved reserves


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11thRound Bidding Result (May 2013)

Braslia

Pernambuco-Paraba

Barreirinhas

Par-Maranho

Amazonas River Mouth

Cear

Parnaba

Tucano andReconcavo Basins

Potiguar OnshoreBasin

Potiguar Offshore

Esprito SantoOnshore/Offshore

Brought Blocks

Offered but not sold

Offshore

Sedimentary Basin

Pre-Salt Limit

Source: Executive Secretariat of theGrowth Acceleration Programme

Produced by:Ministry of Development,

Industry and Foreign Trade

Opportunity: Rening and Petrochemical

Suape PetrochemicalComplexPTA

Abreu e Lima Refinery

Rio Petrochemical Complex

Premium Refinery I Clara Camaro Refinery

Nitrogenated FertilizerPlant III

Chemical GasComplex -UFN-IV

Premium II Refinery

FAFEN-SESulfato de AmoniaSuape Petrochemical Complex PET POY

Nitrogenated FertilizerPlantV

Total Investments US$ 78,2 billion 2011-2014 US$ 41,7 billion After 2014 US$ 36,5 billion


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Natural Gas and Biofuels (ANP) and

Ministry of Mines and Energy (MME)Produced by:Ministry of Finance

Sedimentary basin State Bought Blocks Area (km2)

Sergipe-Alagoas onshore AL 11 320.89

Foz do Amazonas AP 14 10,543.55

Pernambuco-ParabaPB 1 476.95

PE 3 1,776.23

Tucano Sul BA 21 3,789.67

Esprito Santo offshore ES 6 4,328.40Esprito Santo onshore ES 6 178.73

Recncavo BA 15 443.13

Cear CE 6 3,642.32

Potiguar offshoreCE 3 2,303.23

RN 1 767.38

Potiguar onshore RN 14 411.80

Barreirinhas MA 19 9,997.40

Par-MaranhoMA 2 1,538.57

PA 0 -

Parnaba (onshore)PI 14 42,143.81

MA 6 17,620.43

TOTAL 11 142 100,282.49

In the rst half of September 2013, theaverage exchange rate was approxima-

tely US$ 1 = R$ 2.30




142 bought blocks, from 289 offered at the auction

US$ 1.22 billion in signature bonus

US$ 3.0 billion in the Minimum Exploratory Program commitment

Local Content offers indicates good possibilities for execution of the previouscommitments regarding earlier bidding rounds

30 companies bought blocks at the bidding round

- 18 companies from 11 different countries


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Natural Gas and Biofuels (ANP) and

Ministry of Mines and Energy (MME)Produced by:Ministry of Finance

12ThBidding Round: auction scheduled for November, 2013

Concession of areas under rules and terms established by Law 9,478/1997

Focus on natural gas conventional and unconventional resources

Blocks: 240

164,500 km 7 Sedimentary Basins

Bidding judgment criteria:

Signature Bonus (40%) - Minimum for each block in the Auction Notice Minimum Exploratory Program (40%) Local Content (20%) - Minimum and maximum values in Auction Notice

Project Name 1st Production Sharing Tender

Project description

The block on offer in the First Produc tion Sharing Tender was selected in Santos Basin, in the pre-salt polygon forhiring the activities of exploration and production of oil and natural gas, aiming for expanding the Brazilian reservesand the production of petroleum and natural gas and extending the knowledge about the pre-salt polygon.

Prospectus of the Libra area, with 1.548 km, located in deep watersof the Santos Basins, on the coast of Rio de Janeiro.

Estimated total volumes of up to 42 billion oil barrels in situ, indicating a recuperation of 8-12 billion barrels.

Additional information http://www.brasil-rounds.gov.br/arquivos/Edital_p1/Edital_autorizado_030913.pdf

Project location Santos Basin Rio de Janeiro

Project website http://www.brasil-rounds.gov.br

Related sectors Power and Gas (CNAE 35) Extrac tive industries (CNAE 05 to 09)Overall project value BRL 15.000.000.000 USD 6,521,739,130.43

Expected return rate Yet to be dened

Hiring model Tender

Investment type Public and Private

Period/Timeframe

of cooperationExploratory phase: 4 years

Schedule

Beginning of the term to provide the documents related to the Interest Expressionand documents for Qualication and Habilitation: 07/10/2013

Provision of the data pack: 07/10/2013

Beginning of the term for Public Inquiry: 07/10/2013

Final date for Public Notice contributions and end of the Public Inquiry 07/29/2013

Public Hearing (Rio de Janeiro city) 08/06/2013

Issuance of the nal version of the Public Notice and of the Production Sharing Contract 09/03/2013

Technical-Environmental and Fiscal-juridical Seminar 09/17/2013

Final date to provide the documents related to the Interest Expressionand documents for Qualication 09/18/2013

Final date for payment and provision of the documents related to the Attendance Fee 09/18/2013

Final date to provide the Offer Warrants 10/07/2013

Final date to clarify Public Notice provisions 10/07/2013

Offers presentation 10/21/2013

Celebration of the Production Sharing Contract, expected for the month of November, 2013.

Name of the institution National agency of Petroleum, Gas and Biofuels (ANP)


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Address Av. Rio Branco, 65 18th oor, 20090004

State of the institution Rio de Janeiro

City of the institution Rio de Janeiro

Institution webpage,in Portuguese

http://www.anp.gov.br

Institution webpage, in English

Coordinator Tender Promotion Superintendence

Telephone 552121128548

E-mail [email protected]

Project Name 12th Tender Round Petroleum and Natural Gas

Project description

The block s on offer in the Twelfth Tender Round were selec ted on basins within new exploratoryfrontiers and mature basins, aiming for expand the Brazilian reserves and production of natural gas andextending the knowledge about the sedimentary basins, decentralize the exploratory investment inBrazil, develop the small oil industry and settle national and foreign companies in the country, continuingthe demand for local goods and services, the employment creation and the distribution of income.

Additional information The 12th Tender Round shall offer 240 exp loratory b locks, distributed among seven sedimentary b asins, as follows:

Project location I 110 exploratory blocks on New Frontiers areas in basis of Acre, Parecis, So Fransico, Paran e Parnaba; and

Project website II - 130 exploratory blocks on Mature Basins of the Recncavo and of Sergipe-Alagoas.

Related sectors Power and Gas (CNAE 35) Extractive industries (CNAE 05 to 09)

Overall project value Yet to be dened

Expected return rate Yet to be dened

Hiring model Tender

Investment type Public and Private


Variable

Schedule

Event Date

Beginning of the term to provide the documents related to the Interest Expressionand documents for Qualication and Habilitation 08/23/2013

Provision of the data pack 08/23/2013

Beginning of the Public Inquiry 08/23/2013

Final date for prior Public Notice contributions and end of the Public Inquiry 09/11/2013

Public Hearing (Rio de Janeiro city) 09/18/2013

Technical-Environmental Seminar 09/19/2013

Issuance of the Public Notice and of the Licensing Contract 09/26/2013

Fiscal-Juridical Seminar 10/01/2013

Final date to provide the documents related to the Interest Expressionand documents for Qualication 10/11/2013

Final date for payment and provision of the documents related to the Attendance Fee 10/11/2013

Final date to provide the Offer Warrants 11/12/2013

Presentation of the offers 11/28 and 11/29, 2013

Name of the institution National agency of Petroleum, Gas and Biofuels (ANP)

Address Av. Rio Branco, 65 18th oor, 20090004

State of the institution International

City of the institution Rio de Janeiro

Institution webpage,

in Portuguesehttp://www.anp.gov.br

Institution webpage, in English N/A

Coordinator Superintendncia de Promoo de Licitaes (Tender Promotion Superintendence)

Telephone 552121128548

E-mail [email protected]


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Logistics and Transportation - Highways

9 Lots, 7,000 km. Estimated investment: US$ 20 billion.On August 15, 2012, the Brazilian Federal Government launched the Logistics Investment Program (PIL). The program

includes a set of projects which will contribute to the development of a modern and efficient transport system and will

be carried out through strategic partnerships with the private sector, taking into account synergies between road and rail

networks, waterways, ports and airports.

In the highway sector, the program foresees the concession of 7,000 km of toll roads. The estimated investment is worth

US$ 23 billion. The highway concession program has three main guidelines: the provision of a wide, modern and integratedroad network; efficient and competitive supply chains; and low toll rates.

Source: Brazilian Logistics & Planning Company EPL. (In the rst half o f September 2013, the average exchange rate was approximately US$ 1 = R$ 2.30)

Highway Concessions

Highways

Updated information available atwww.logisticsbrazil.gov.br

Source: National Logistics & PlanningCompany (EPL)


7

2

6

9

5

4

1

3

PA MA

PE

BA

TO

MT

ES

MG

GOMS

SP

PR

SC

RS

Aailndia

Sinop

Palmas

Parnamirim

Lucas do Rio Verde

Cuiab

Recife

Macei

Aracaju

Salvador

Porto Seguro

Mucur

Vitria

Campos

Alm Paraba

Divisa Alegre

Mafra

Maracaju

Estrela

DOeste

Rio deJaneiro

BeloHorizonte

So Paulo

Santos

CampoGrande

Uruau

Braslia

Rio Grande

Juz de Fora

Anpolis

Goinia

Feira de Santana

BR

-116

BR

-050

BR-262

BR-040BR-153

BR

-163

BR-262

BR-060

BR-101

BR-153

BR

-163

Belm

2

1

3

5

4

6

8

7

9

BR-116/MGBR-040/MG-GO-DFBR-101/BABR-262/MG-ESBR-050/GO-MGBR-153/GO-TOBR-163/MTBR-163/MSBR-060/153/262/DF-GO-MG

8

Logistics Investment Program (PIL)


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Auction Concluded

on September 18th

Road Concession BR-050: from Cristalina (GO) (BR-040 entry point) to MG/SP border

Object Demand Concession characteristics Section: BR-050, Entry Point of BR-040/GO (Cristalina) Border w/ MG/SP

Total Length:426 km

Length to be widened:219 kmThe project includes duplication, main-tenance and operation of the highway.Other duplication projects are also plan-ned to happen, including the constructionof 9 km of side roads.

Demand Projection (AADT):2014 (54,232), 2019 (62,790), 2024(76,046).

Connects Brasilia, the state of SoPaulo and the South Region of thecountry, crossing an importantagricultural and wholesale retailcenter - the Minas Gerais triangle.

Build, operate and transferTerm: 30 yearsCriteria:lowest tariff

Economic andFinancial Modeling

CAPEX*:US$ 1.3 billionOPEX: US$ 869 million

Financing conditions:

Term:25 years (Grace period: 5 years)

Rate: TJLP** + 2%a.a.Real leveraged IRR: up to 16%per year, in real terms.

Debt to equity ratio: up to 70% / 30%

Equity support: up to 49% of SPE***or holdings share capital

(Institutions: public banks and pensionfunds)Environmental licensing:State--owned EPL is in charge of obtainingPrevious License (LP) and InstallationLicense (LI) of duplication works

MT

TO

GO

MS

PR

SP

MG

RJ

ES

BA

BR-153

BR-060

BR-050

SoPaulo

Palmas

Goinia

Uberaba

UberlndiaCatalo

Cristalina

Braslia

Highway BR-050 GO/MG

To be awarded

BR-040

Rio de Janeiro

Vitria

* Without benets and indirectexpenses

** TJLP - Long Term Interest Rate,currently 5% p.a.*** Special Purpose Entity




Source: National Logistics & PlanningCompany (EPL)Produced by:Ministry of Finance

Road Concession BR-040: Braslia (DF) Juiz de Fora (MG)

Object Demand Concession characteristics Section: BR-040, Juiz de Fora (MG) Entrypoint of BR-251 (Braslia - DF) Total Length: 937 km Length to be widened: 715 kmThe project includes duplication, mainte-nance and operation of the highway. Otherduplication projects are also planned tohappen, including the construction of sideroads between Luziania and Brasilia.

Demand Projection: under studyConnects two important economiccenters in Brazil - Rio de Janeiro andBelo Horizonte - to the fourth mostpopulous city and the highest GDPper capita in the country - Brasilia.It is the main route for supply ofcoal to steel parks.

Build, operate and transfer

Concession Term:30 yearsNumber of Toll Plazas: 11Criteria:lowest tariff

Economic and FinancialModeling


Term:25 years (Grace period: 5 years)

Rate:TJLP* + 2%a.a.

Real leveraged IRR:up to 16% peryear, in real terms.

Debt to equity ratio:up to 70% / 30%

Equity support: up to 49%of SPE**or holdings share capital(Institutions: public banks andpension funds)Environmental licensing: State--owned EPL is in charge of obtainingPrevious License (LP) and InstallationLicense (LI) of duplication works

GO

SP

MG

RJ

ES

Braslia

Luzinia

Sete Lagoas Belo Horizonte

Juiz de ForaBR-381

BR-040

Highway BR-040MG/GO/DF

To be awardedGranted Section180 Km

So Paulo

Curitiba

Rio deJaneiro

* TJLP - Long Term Interest Rate,currently 5% p.a.** Special Purpose Entity




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Road Concession BR-101:from the entry point of BR-324 (BA) to the entry point of the BA-698 (Mucuri)

Object Demand Concession characteristics Section: BR-101, Entry Point of BA-698(Mucuri) Entry Point of. BR-324/BA

Total Length: 772 km

Length to be widened: 551.3 km

The project includes duplication,maintenance and operation of thehighway. Other duplication projects arealso planned to happen, including theconstruction of 67 km of side roads.

Demand Projection (AADT):2014(57,392), 2019 (71,312),2024 (87,140).

Connects the southern coast of Bahiato the states of Esprito Santo and Riode Janeiro. BR-101 is a very importantroad connecting the northeast with thesoutheast and southern regions alongthe coastal line, where lives a greatshare of Brazilian population. Importantports are also connected by this road.


Concession Term:30 yearsNumber of Toll Plazas: 9Criteria:lowest tariff


CAPEX*:US$ 2.2 billion

OPEX:US$ 1.3 billion


Term:25 years (Grace period: 5 years)Rate:TJLP** + 2%a.a.Real leveraged IRR:up to 16%per year, in real terms.

Debt to equity ratio:up to 70% / 30%

Equity support: up to 49%ofSPE*** or holdings share capital(Institutions: public banks andpension funds)Environmental licensing: State--owned EPL is in charge of obtainingPrevious License (LP) and InstallationLicense (LI) of duplication works

GO

SP

MG

RJ

ES

BASalvador

Rio deJaneiro

BR-101

BR-116

BR-381

BR-262

BeloHorizonte

Vitria

MucurJooMonlevade

SoPaulo

Highway BR-101 BA

To be awarded

* Without benets and indirect

expenses* *TJLP - Long Term Interest Rate,

currently 5% p.a.*** Special Purpose Entity

In the rst half of September 2013,the average exchange rate wasapproximately US$ 1 = R$ 2.30



Road Concession BR-116: from BA/MG border (Divisa Alegre) to MG/RJ border (Alm Paraba)

Object Demand Concession characteristics Section: BR-116, RJ/MG Border (AlmParaba) - MG/BA Border (Divisa Alegre)


Length to be widened: 817 km

The project includes duplication, mainte-nance and operation of the highway. Otherduplication projects are also planned, includ-ing the construction of 27 km of side roads.

Demand Projection: under study

Connects two important economiccenters in Brazil - Rio de Janeiro

and Salvador across easternMinas Gerais.


Concession Term:30 yearsNumber of Toll Plazas: 8

Criteria:lowest tariff

Economic and FinancialModeling

Financing conditions:Term:25 years (Grace period: 5 years)Rate:TJLP* + 2%a.a.Real leveraged IRR:up to 16% peryear, in real terms.Debt to equity ratio: up to 70% / 30%Equity support: up to 49%of SPE**or holdings share capital(Institutions: public banks andpension funds)

Environmental licensing: State--owned EPL is in charge of obtainingPrevious License (LP) and InstallationLicense (LI) of duplication works

GO

SP

MG

RJ

ES

BA

BR-116

SoPaulo Rio de

Janeiro

Divisa Alegre

Telo Otoni

Gov. Valadares

Muria

Alm Paraba

Salvador

HighwayBR-116 MG

To be awarded

* TJLP - Long Term Interest Rate,currently 5% p.a.

** Special Purpose Entity




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Road Concession BR-153: from Palmas (TO) to Anpolis (GO) (BR-060 entry point)

Object Demand Concession characteristics Section: BR-153, Anpolis (EntryPoint of BR-060/GO) - Entry Pointof TO-080; TO-080, Entry Point of

BR-060/GO- Palmas Total Length: 814 km

Length to be widened: 769.5 kmThe project includes duplication,maintenance and operation of thehighway. Other duplication projectsare also planned, including theconstruction of 10 km of side roads.

Demand Projection (AADT):2014 (99,926),2019 (119,627), 2024 (146,113).

Connects Palmas, Goinia and the southeast ofthe country, crossing a major Brazilian agricul-tural pole. Palmas is the geographical centerof the country, with the vocation to become animportant hub. BR-153 is the main road to reachthe city of Manaus from other regions, benetingfrom the heavy traffic of Manaus Free Zone, whichconcentrates Brazilian electronic production,among other important industries.

Build, operate and transferConcession Term:30 years.Number of Toll Plazas: 11.

Criteria:lowest tariff.Economic and

Financial Modeling

CAPEX*:US$ 3.0 billion

OPEX:US$ 1.4 billion

Financing conditions:Term:25 years (Grace period: 5 years)Rate:TJLP** + 2%a.a.

Real leveraged IRR:up to 16%per year, in real terms.Debt to equity ratio: up to70% / 30%Equity support: up to 49%of

SPE*** or holdings share capital(Institutions: public banks andpension funds)Environmental licensing: State--owned EPL is in charge of obtainingPrevious License (LP) and InstallationLicense (LI) of duplication works

MT

TO

GO

MSSP

MG

RJ

ES

BA

Palmas

Gurupi

Uruau

Anpolis

BR-153

TO-080

BR-060

BR-040

BR-050

BR-262

BR-153

HighwayBR-153 GO/TO

To be awarded

* Without benets and indirectexpenses

* *TJLP - Long Term Interest Rate,currently 5% p.a.*** Special Purpose Entity





Road Concession BR-060 (DF/GO), BR-153 (GO/MG) and BR-262 (MG)

Object Demand Concession characteristics

Section: BR-060, Entry Point of BR-251 (DF) EntryPoint of BR-153/GO; BR-153, Entry Point of BR-060/GO Entry Point of Br-262/MG; BR-262, Entry Point of BR-153/MG Entry Point of BR-381 (Betim) Total Length: 1,177 km Length to be widened: 648 kmThe project includes duplication, maintenance and ope-ration of the highway. Other duplication projects are alsoplanned, including the construction of 27 km of side roadsand ringroad in Goinia.

Demand Projection(AADT):2014 (160,374),2019 (195,551), 2024(238,453).

Connects Braslia, Goinia,Uberaba and Belo Horizonte,crossing a major Brazilianagricultural pole.

Build, operate and transferTerm: 30 years.Number of Toll Plazas: 11.Criteria: lowest tariff.


CAPEX*:US$ 3.9 billionOPEX:US$ 1.8 billion


Term:25 years (Grace period: 5years)Rate:TJLP** + 2%a.a.

Real leveraged IRR:up to 16%per year, in real terms.Debt to equity ratio: up to 70% / 30%Equity support: up to 49%ofSPE*** or holdings share capital(Institutions: public banks andpension funds)Environmental licensing: State--owned EPL is in charge of obtainingPrevious License (LP) and InstallationLicense (LI) of duplication works

* Without benets and indirectexpenses* *TJLP - Long Term Interest Rate,currently 5% p.a.

*** Special Purpose Entity



Updated information available at

www.logisticsbrazil.gov.br

Source: National Logistics & Planning

Company (EPL)Produced by:Ministry of Finance

MTGO

MS

PR

SP

MG

RJ

ES

BA

AnpolisBraslia

Goinia

Arax Betim

BeloHorizonte

BR-153

BR-060

BR-040

BR-050BR-153

BR-153

BR-153

BR-262

BR-381

Uberaba

Rio deJaneiro

Vitria

So Paulo

HighwayBR-060/153/262 DF/GO/TO

To be awarded


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Road Concession BR-163: from MT/MS border to MS/PR border

Object Demand Concession characteristics Section: BR-163, Border MT/MS Borderw/ MS/PR


Length to be widened: 807 kmThe project includes duplication, mainte-nance and operation of the highway. Otherduplication projects are also planned.

Demand Projection: under study

Connects Cuiab, Campo Grande

and the Southeast/South Regionsof Brazil, constituting an alternativeroute for the ow of Brazilianagricultural production.


Term: 30 years.

Criteria: lowest tariff.



Financing conditions:Term:25 years (Grace period: 5 years)Rate:TJLP** + 2%a.a.Real leveraged IRR:up to 16%per year, in real terms.Debt to equity ratio:up to 70% / 30%Equity support: up to 49%of SPE***or holdings share capital

(Institutions: public banks andpension funds)Environmental licensing: State--owned EPL is in charge of obtainingPrevious License (LP) and InstallationLicense (LI) of duplication works

MTTO

GO

MS

PR

SP

MG

RJ

ES

BA

Curitiba

Cuiab

Campo Grande

Nova AlvoradaDourados

BR-163

BR-364

BR-262

BR-267

Highway BR-163/267/262 MS

BR-163

To be awarded

* Without benets and indirectexpenses* *TJLP - Long Term Interest Rate,currently 5% p.a.

*** Special Purpose Entity



Updated information available at

www.logisticsbrazil.gov.br

Source: National Logistics & Planning

Company (EPL)Produced by:Ministry of Finance

Road Concession BR-163: from Sinop (MT) to MT/MS border

Object Demand Concession characteristics Section: BR-163, Sinop Border MT/MS


Length to be widened: 453 kmThe project includes duplication, maintenan-ce and operation of the highway. Other du-plication projects are also planned, including20 km of ringroad (in 5 different cities) and44 km of side roads.

Demand Projection (AADT):2014 (5,815), 2019 (7,140), 2024(8,757)

Connects Sinop, Cuiab, CampoGrande and the North/Southeast/South Regions of Brazil, crossingan important Brazilian agriculturalproduction.

Build, operate and transferTerm: 30 yearsNumber of Toll Plazas: 9Criteria: lowest tariff



Financing conditions:Term:25 years (Grace period: 5 years)Rate:TJLP** + 2%a.a.

Real leveraged IRR:up to 16%per year, in real termsDebt to equity ratio:up to 70% / 30%Equity support: up to 49%of SPE***or holdings share capital(Institutions: public banks andpension funds)

Environmental licensing: State--owned EPL is in charge of obtainingPrevious License (LP) and InstallationLicense (LI) of duplication works

MTTO

GO

MS

PR

SP

MG

RJ

ES

BA

Goinia

Curitiba

Cuiab

Campo Grande

BR-163

BR-364

BR-262

BR-267

Posto Gil

Rondonpolis

Sinop

BR-163

Highway BR-163 MT

To be awarded

* Without benets and indirectexpenses* *TJLP - Long Term Interest Rate,

currently 5% p.a.*** Special Purpose Entity

In the rst half of September 2013,the average exchange rate wasapproximately US$ 1 = R$ 2.30




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Pr oj ec t N am e Pr oj ec t o f t he N at io na l N et wo rk o f I nt er na ti on al a nd I nt er st at e R oa d P as se ng er Tr an sp or t - Pr oP as s B ra si l

Project description

The Projec t of the National Net work of International and Interstate Railro ad Passenger Transport - Pro PassBrasil - was created in 2008 to propose a restructuring in the international and interstate road passengertransport service. The services are to b e bid in two modalities: road-wise and semi-urban-wise lines.

The transport ope rated by bus mainly happe ns in long dist ances, over 75 km and demand different kinds of vehicles(cushioned and reclining seats, room for luggage, etc.) from those usually used in an urban environment. This kindof transport is also characterized for selling tickets in advance and for not allowing passenger to travel standing up.

For the transport to be considered semi-urban it must have urban transport features and a schedule extension of up

to 75 km. the characteristics of semi-urban journeys make this kind of transport have urban transport elements, likeallowing passengers to travel standing up and controlling passengers who enter the bus through a turnstile or similar.

Still regarding road-wise lines, the bidding will be done, as an auction, aiming at allowing grouped explorationquotes on the lots for the regular service provision of interstate road passenger transport, operated by aroad-type bus, according to the requirements in the Bulletin and its Attachments which are available onANTT (National Agency for Land Transportation)s website www.antt.gov.br, or at ANTTs headquarters.

To learn more about the bidding of inters tate serv ices ope rated by road-typebus, please access ProPasss interstate road transport website link.

Additional informationThe Proponents may reque st clarication f rom 9 am on September 2nd, 2013 to 5:30 pm on October 4th, 2013.The requests for clarication are dened in the Bulletin. The Auctions Public Session, with the particip ation of theProponents, represented by a Legal Representative or Brokerage, will be held from April 2nd, 2014, at BM&FBOVESPA.

Project location

Covers 2,050 towns from all regions in the country.Over 20,000 pairs origin/destination.26,130 Exploration Quotes.2,110 lines (initial form of assistance).

54 Lots, distributed in 16 Groups.Estimate of 54.3 million passengers/years.

Project website http://propass.antt.gov.br/

Related sectorsLogistics, Roads, Railways, Ports, Waterways, Airports, Urban Mobility, Transport,Warehousing, Post Offices and Others (CNAE 49 to 53)

Overall Project Value BRL 51.072.390.486,25 USD 22,205,387,168.93

Expected rate of return 8.11

Hiring model Bidding

Type of investment Public and Private

Timeframe / cooperation term Permission of Batch Services for 15 years, undelayable.

Schedule

1. Availability of Bidding Documents: 9/2/20132. Length of time for getting the requests for clarication: 9/2/2013 a 10/7/20133. Meeting for Clarication, at BM&FBovespa in So Paulo/SP: 9/24/2013

4. Responses to the requests for clarication: 10/14/20135. Time for Impugnation of the Documents: 9/2/2013 a 10/21/20136. Receipt, at ANTTs headquarters, in B raslia/DF, from 9am to 5pm, of all envelop es: 11/04/2013 to 11/05/20137. Envelope I Opening- Bid security and Envelope II Fleet Conrmation: 11/06/20138. Envelope III Opening- Qualication: 01/21/20149. Envelope IV Opening- Proponents Economic Proposals Auctions PublicSessions at BM&FBovespa in So Paulo/SP: 04/02/2014 to 04/11/201410. Envelope V Opening Business Plans only from the Proponents on rst place inthe Lots, in the Economic Proposals classication order: 04/15/201411. Announcement of Ratication on Bidding Results by ANTTs board of directors: 09/03/201412. Deadline for conrming service by Contractor on obligations before thePermission Agreement being sign ed: 10/20/2014 to 11/28/201413. Permission Agreement signing: 10/20/2014 to 11/28/2014

Name of the Institution ANTT

Address Setor de Clubes Esportivos Sul - SCES, lote 10, trecho 03, Projeto Orla Polo 8 70200003

State of the Institution Federal DistrictCity of the Institution Braslia


http://www.antt.gov.br/


Coordinator Sonia Rodrigues Haddad

Telephone +55 (61) 34101405



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Project Name Concession of Highway BR - 040 DF/GO/MG

Project description Repair, operation, maintenance, implantation of improvements and extension of Road Systems.

Additional informationThe total amount of the investment refers to i t and represents the sum ofthe amount in every state contemplated by the project.

Project location Section covering the extension from Braslia-DF to Juiz de Fora-MG, total length of 936.8 Km.

Project website http://3etapaconcessoes.antt.gov.br/index.php/content/view/1169.html

Related sectors Logistics, Roads, Railways, Ports, Waterways, Airports, Urban Mobility, Transport,Warehousing, Post Offices and Others (CNAE 49 to 53)

Overall Project Value BRL 6.530.000.000 USD 2.839.130.434,78

Expected rate of return 7.20%

Hiring Model Concession

Type of investment Public e Private

Timeframe / cooperation term 30 years

ScheduleRepair of the structure and total duplication of the highway to the end of the 5th year and its maintenancebetween and 6th and 30th years. The highways will operate for the 30 years in the contract.


Address SCES (Sporting Clubs Sector: South), lote 10, trecho 03, Projeto Orla Polo 8 70200003




www.antt.gov.br


Coordinator Natlia Marcassa de Souza

Telephone 166



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Project Name Concession of Highway BR-050/GO/MG

Project description Repair, operation, maintenance, maintenance, implantation of improvements and extension of Road Systems.

Additional informationThe total amount of the investment refers to i t and represents the sum ofthe amounts in every state contemplated by the project.

Project location436.6 km long section from BR-050, from the junction with BR-040, in Gois, to theborder of Minas Gerais with the State of So Paulo; Section between junction withBR-040, in Gois, to the border of Minas with the State of So Paulo.



Overall Project Value BRL 3.030.000.000 USD 1,317,391,304.35





30 years



Address SCES (Sporting Clubs Sector: South), lote 10, trecho 03, Projeto Orla Polo 8 70200003




www.antt.gov.br



Telephone 166



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Project Name Concession of Highway BR-163/MS



Project locationSection of BR-163 fully inserted in the State of Mato Grosso do Sul, with a total length of 847.20km (starting at the border of Mato Grosso and nishing at the border with Paran)



Overall Project Value BRL 5.760.000.000 Bilhes USD 2,504,347,826.09





30 years



Address SCES (Sporting Clubs Sector: South), lote 10, trecho 03, Projeto Orla Polo 8 70200003State of the Institution Distrito Federal



www.antt.gov.br



Telephone 166



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Project Name Concession of Highway - BR-163/MT



Project location850.9 km long s