Growth Acceleration Program (PAC)
The BNDES plays a fundamental role fundamental as the financial agent of the investment projects within the scope of the Growth Acceleration Program (PAC). Launched in January 2007, the PAC is aimed at accelerating economic growth, increasing the number of jobs and improving the standards of living for the Brazilian population. The program consists of a set of measures aimed at boosting private investments, increasing public investment in infrastructure and removing bureaucratic, administrative, normative, legal and legislative obstacles to growth.
Up to 2011, the BNDES portfolio within the PAC scope included 503 projects, which accumulate investments to the value of R$ 327 billion, of which the Bank participates with loans of R$ 179.4 billion – in other words, 55% of the total of the project supported in this portfolio. According to the table below, investments are distributed across the following segments: (a) energy, category in which 77% of the portfolio’s resources are concentrated, especially projects for power generation, transmission as well as oil and gas; (b) logistics, which includes 94 projects for highways, railways and the merchant marine segment; (c) social and urban infrastructure, with emphasis on loans for sanitation, urbanization and subway transport; and finally, (d) public administration, with efforts focusing on the implementation of the public system for digital bookkeeping (SPED).
In relation to 2010, the financing portfolio and disbursements grew 14% and 18%, respectively.
PAC – BNDES Portfolio
| Segments | Nº. of projects | Total investment (R$ million) | BNDES Participation (R$ million) | Disbursements in 2011 (R$ million) |
|---|---|---|---|---|
| Energy | 310 | 258,811 | 137,240 | 14,763 |
| Logistics | 94 | 49,888 | 31,314 | 3,600 |
| Social and urban infrastructure | 85 | 18,462 | 10,667 | 1,447 |
| Public administration | 14 | 196 | 166 | 18 |
| Total | 503 | 327,357 | 179,387 | 19,827 |
The BNDES’ disbursements to PAC projects, from its launch up to 2011, have reached R$ 104.8 billion, with regional distribution, as shown in the table below.
| Segment | North | Northeast | Southeast | South | Central-West | Inter-regional | Total | (%) |
|---|---|---|---|---|---|---|---|---|
| Energy | 20,095 | 22,342 | 9,716 | 7,243 | 4,457 | 20,660 | 84,512 | 80.6 |
| Logistics | 58 | 2,299 | 7,646 | 807 | 251 | 2,042 | 13,103 | 12.5 |
| Social and urban infrastructure | 204 | 543 | 5,714 | 558 | 91 | - | 7,111 | 6.8 |
| Public administration | 4 | 24 | 24 | 14 | 16 | - | 82 | 0.1 |
| Total | 20,361 | 25,208 | 23,100 | 8,622 | 4,815 | 22,702 | 104,808 | 100.0 |
Once again, the energy sector stands out because of its concentration of 80% of the resources due to the need to expand the offer of energy to make the country’s path to growth feasible. In 2011, the BNDES contracted electric power generation projects within the scope of the program, which correspond to 2,550 MW of installed capacity.
From a regional point of view, the volume of resources allocated to the Northern and Northeastern regions was expressive, but this was due to the fact that these areas are home to the program’s largest energy projects.
Featured projects in 2011
| Project | Objective | Contracted value | Total investment |
|---|---|---|---|
| Segment: Energy | |||
| Renova | Implementation of nine wind parks in the municipalities of Igaporã, Guanambi and Caetité in the state of Bahia, with total installed power of 175.5 MW, and the associated Transmission System, within the scope of the 2009 Reserve Energy Auction. It also includes social projects in the surrounding areas. | 587 | 792 |
| Alberto Pasqualini | Implementation of a new UHDT-II diesel hydrotreating unit and a new UGH-II hydrogen generating unit for the production of hydrotreated diesel with reduced sulphur content; the implementation and modification of auxiliary systems and installations in the beneficiary’s industrial park, in Canoas (state of Rio Grande do Sul), and social projects within the scope of the community’. | 1,109 | 1,637 |
| Interligação Elétrica do Madeira S.A. | Construction of an electric power transmission line that will connect the substation in Porto Velho (state of Rondônia) to the substation in Araraquara (state of São Paulo). The project is part of the transmission complex that will connect the power plants of the Rio Madeira (river) Hydroelectric Complex (UHE Santo Antônio and UHE Jirau) to the National Interconnected System. | 280 | 1,843 |
| Meridiano Plant | Implementation of the sugar and ethanol plant in the municipality of Meridiano (state of São Paulo), with a milling capacity of five million tons, co-generation of 90 MW of electric power. The project also included the planting of 40,000 hectares of sugarcane and social investments in the surrounding areas. | 409 | 944 |
| Segment: Logistics | |||
| Autopista Fluminense S.A. | Investments in the second stage of the Federal Highway Concession Program, through the recovery and re-adaptation of Lot 4 of BR-101 (federal highway), which includes the stretch between the Espírito Santo-Rio de Janeiro state border and the Rio-Niterói Bridge extending 320 km in length. | 781 | 1,017 |
| Wilson, Sons Estaleiros Ltda. | Implementation of a shipyard in Rio Grande (state of Rio Grande do Sul), for the construction of offshore support vessels, besides the social investment within the company’s scope. | 234 | 260 |
| Segment: Social and Urban Infrastructure | |||
| Águas de Nova Friburgo | Carrying out the investment plan referring to the period between 2010-2014, which aims at reconstructing, modernizing and expanding the water supply and sewage systems of the municipality of Nova Friburgo (state of Rio de Janeiro). | 45 | 56 |
| Estre Ambiental | Expansion of the Paulínia and Itapevi sanitary landfills, by implementing new cells, capturing biogas with the generation of carbon credits, and producing fuel derived from residue (CDR) in Paulínia (state of São Paulo). | 34 | 46 |