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Brazil: Alleged cartel risks disqualification from $16B bullet train project

By  |  July 24, 2013
Brazil: Alleged cartel risks disqualification from $16B bullet train project

According to reports, the fate of several transport companies alleged to have formed a cartel rests in the hands of Brazil’s antitrust regulator CADE, which will rule whether such a cartel was formed and whether the suspected companies can continue to participate in the bidding for a $16 billion train project. One financial expert told reporters that the possibility of disqualification exists, though the companies accused of the cartel behavior may be the only ones with the technological capacity for the project, which would establish a bullet train route hitting 8-to-11 stations in the country. Germany engineering giant Siemens blew the whistle on the alleged cartel, accusing Bombardier, Mistui, Alstom and CAF as cartel participants.

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