The Brazilian state of Rio Grande do Sul and the city of Porto Alegre have signed a collaboration with the BNDES to get support from the national bank for the Porto Alegre subway project.
Under the agreement, BNDES will provide technical support in the evaluation of the Feasibility studies presented by private companies. In addition, the financial institution will also support the economic and financial modeling for the project.
On 5 Dec. 2014, three teams qualified to submit Feasibility studies for the project:
The teams have until April 10, 2014 to deliver the studies.
The estimated cost of the project will be R$4.8 billion (US$2 billion), of which R$ 3.5 billion (US$ 1.5 billion) will be funded by public funds and R$1.3 billion (US$0.5 billion) through a Public-Private Partnership (PPP).
The total length of the metro will be 11.7 km. The route includes the stretch of 10.3 km Line 1, from the Democratic Esquina (Historic Center) to the Terminal Triangle (North Zone), and the stretch of 1.4 km for the connection to the maintenance center.