A trade delegation from Sao Paulo visited the UK in January to tempt British contractors with eight public private partnership (PPP) infrastructure projects, together worth US$20bn.
The projects, presented in the City of London on 28 January, include the construction and maintenance of three subway lines, a monorail, an intercity train network, three prison complexes and four new hospitals.
"The State of Sao Paulo today is alone the 18th largest economy in the world, accounting for 33% of Brazil’s GDP, and it has a credibility track-record to attract investments in infrastructure through partnerships with the private sector," said Deputy Governor of Sao Paulo, Guilherme Afif Domingos said.
He added: "Moreover, the European crisis opens a window of opportunity to awaken the healthy appetite of foreign investors in search of good business options in emerging markets."
The UK’s Trade and Investment Minister Lord Green said: "As Sao Paulo prepares to host the World Cup in 2014, there are some great infrastructure projects ready to get underway in Brazil. Our construction sector is one of the world’s biggest and best, and UK companies are ideally placed to capitalise on these excellent opportunities."
The Brazilian delegation met with UK infrastructure companies and banks, and signed a Memorandum of Understanding between UK Trade & Investment (UKTI) and Invest Sao Paulo.