The Brazilian National Agency for Land Transport (ANTT) has authorised project management company Trem de Alta Velocidade (TAV) Brasil to build and operate a high-speed rail (HSR) line between São Paulo and Rio de Janeiro for a term of 99 years. According to ANTT, TAV Brasil met all the requirements to obtain authorisation to build the 380 km line. However, the authorisation does not automatically guarantee the realisation of the project. TAV Brasil still needs to seek an investor, aiming to use 20% of its own capital and 80% via external financing for the project. To this end, the company is intending to seek financing from pension funds, national and international investors, development bank BNDES, and multilateral credit agencies. The cost of the project is estimated at €9.2 billion (BRL50 billion). However, TAV Brasil, created in 2021 for the purpose of operating HSR services, has a share capital of just under €20,000. Operations on the line are scheduled to start in June 2032.
