Guilherme Ramalho Presentation.pdf - Brazil-US Business Council
Guilherme Ramalho Presentation.pdf - Brazil-US Business Council
Guilherme Ramalho Presentation.pdf - Brazil-US Business Council
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HIGH-SPEED RAIL - HSR<br />
Financial Modeling – General assumptions<br />
Demand and Revenue: Studies made by Halcrow<br />
Taxes exoneration: REIDI, and ICMS, PIS and COFINS exemption<br />
Investment:<br />
• 5 years<br />
• <strong>US</strong>$19.7 billion<br />
Term of Concession: 40 years<br />
Government’s direct financing:<br />
• Interest Rate: TJLP + 1%<br />
• Term: 30 years<br />
IRR<br />
• For the project: 5.7%<br />
• For the stockholder: 9.2%<br />
Leverage level: 70% / 30%<br />
Public participation (ETAV): <strong>US</strong>$0.6 bi (own capital) + <strong>US</strong>$1.3 bi<br />
(expropriation)
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