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03.13.08
» Land transportation leads BNDES’
disbursements and reaches R$ 12.1 billion
· Disbursements sum up R$ 66.6 billion in 12 months until February
Financings for investments in land transportation led Banco Nacional de Desenvolvimento Econômico e Social's [BNDES] disbursements in the past 12 months ended in February. The sector received R$ 12.1 billion in the period, 71.4% superior to the R$ 7.1 billion released in the previous 12 months.
Its importance may also be seen when we analyze, in BNDE's overall figures, the participation of the resources released to the segment. Disbursements for investments in land transport represented 18% of the total released by the Bank in the period, reaching the widest participation amongst the 15 segments that comprise the sectorial statistics, as announced monthly by BNDES.
The land transport item, which includes the road (cargo, passenger and school), rail and subway modes, received 85% more from BNDES, in the analyzed period, than the second largest sector release, which was of R$ 6.6 billion to the electric energy segment. Nevertheless, the energy sector kept up the good performance registered in the past few months and presented a 109% expansion, under the same comparison basis.
The highlights in the transport sector were the R$ 7 billion for general cargo, a segment that increased 71% in relation to the previous 12 months. The financings to railway cargo transportation also presented an expressive increase - 218%, with releases reaching R$ 1.6 billion in the period.
The land transport sector's behavior (road and rail) was influenced in a positive way by the strong growth of the mode's intensive activities, such as mining and iron and steel. Agriculture also had a positive influence in transport expansion due to its recovery after 2006, a performance that will probably continue throughout the year.
Among the releases for the period are projects included in the Growth Acceleration Program [PAC], such as the Transnordestina project and the North-South Railroad project, which total R$ 710 million in disbursements for the period. PAC's BNDES portfolio in the land transport area currently totals R$ 2.9 billion, besides R$ 5.6 billion that are being prospected and that will demand total investments of R$ 34.0 billion.
The performance throughout the period confirms the expansion of infrastructure projects - a sector that disbursed R$ 26.5 billion, yielding a 64% increase - in the Bank.
Approvals - Approvals for land transport in the past 12 months ended in February also led the statistics, accompanying the excellent performance of disbursements. Their growth was of 64% under the same comparison basis, and the amount reached R$ 15.9 billion, representing 15% of the total approved.
The electric energy sector, just like in the disbursements ranking, took second place amongst the Bank's approvals by sector, and was responsible for 13% of the total approved. Between March 2007 and February 2008, it summed R$ 13.4 billion, yielding a 226% increase.
The performance of both sectors influenced infrastructure increase. This segment approved investments of R$ 44.3 billion in the analyzed period, equivalent to a 75% expansion.
Overall performance - BNDES' disbursements summed up R$ 66.6 billion in the past 12 months ended in February, a record amount, reflecting a 21% growth in comparison to the same previous period. Approvals - R$ 104.8 billion, rose by 32%; framings reached R$ 123.5 billion and consultations R$ 138.5 billion, representing increases of 29% and 28%, respectively.
Sector performance - Industry projects received R$ 26.8 billion from the Bank in the past 12 months, a drop of 10%, still reflecting the retraction of financings to exports. On the other hand, approvals for the sector totaled R$ 45.5 billion in the same period, equivalent to a 10% increase as compared to the previous 12 months - a result that points to a growth in disbursements to the sector.
Farming and cattle-raising kept growing, as regards both disbursements and approvals. In the past 12 months, releases reached R$ 5.1 billion (a 52% increase) and approved projects reached R$ 5.2 billion (a 21% increase).
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