Brazil to invest $3Billion on airports for 2014 World Cup
Published:Monday | July 19, 2010 | 5:10 PM
Brazil will invest nearly $3 billion to renovate and expand its airports ahead of the 2014 World Cup.
Officials also guaranteed investments of about $400 million in ports, hoping to make sure the country is ready to host football's biggest tournament.
The government signed a document today securing the investments and creating a timetable for work related to transportation and stadium construction, two of the areas receiving most of the criticism from FIFA because of delays.
Government officials had also expressed concerns with the country's preparations. However, Brazil president Luiz Inacio Lula da Silva says everything will be ready on time.
The document allows Brazil's civil aviation agency to accelerate work to renovate the 13 airports expected to be used by fans and tourists in the 12 host cities, which are spread across Brazil.
The investments approved today will also be used to help Rio de Janeiro host the 2016 Olympics.
A recent government study said Brazil would invest a total of $18 billion in infrastructure in the next few years.