Multifoco Assessoria S/C Ltda

Decision: Rio Investments 2010

DECISION: RIO – INVESTMENTS 2008-2010

Rio de Janeiro State Federation of Industry - FIRJAN

A Series of Investiments

The state of Rio de Janeiro is going through one of its finest moments. In the next three years, more than US$50 billion of public and private investments will be made, putting Rio de Janeiro at the forefront of Brazil’s present economic scenario.

We are seeing a social and economic transformation. Oil is clearly a major lever for the Rio state economy, with a huge chain of companies and suppliers involved. But other industry sectors are also raising the stakes in their investment plans. One of these is the steel giant CSA ThysenKrupp, which will soon be inaugurating its new industrial plant. Other large-scale projects such as the Porto do Açu, Comperj, the Metropolitan Ring Road and Angra 3, to name but a few, will inject even more life into the State’s industrial activity, bringing in their wake the benefits of sustainable development.

The present study, Decision Rio, is yet one more contribution from the FIRJAN System to the productive sector and to growth. This study aims to map out investments – it will serve as an efficient tool which can be used by Rio de Janeiro industries to increase their business, by large and small Brazilian and foreign companies which would like to invest here, and also to help with public planning and give society at large better information about investments in the State.

The Decision Rio study also has a Google Earth version. FIRJAN is the first institution to offer a map of investments for our State using this powerful tool. It will help to create an immediate visualization of the investments in each region, thus providing a projection of future demands for labor and for the whole productive chain.

It is my sincere wish that you make full use of this study and that it help you in your decisions to invest in our State.

Eduardo Eugenio Gouvêa Vieira

President of the FIRJAN System

INTRODUCTION

The Infrastructure and New Investments Division of the FIRJAN System conducts an annual survey in Rio de Janeiro state of the investment intentions of private and state investors for a prospective period of three years. This survey is entitled Decision: Rio. It reports on investment trends and presents business opportunities for decision makers in the public and private sectors.

This term record investments have been reported – nearly US$ 51 billion announced up to July 2007 for the period 2008-2010. In addition to presenting investment figures and the customary analysis of the profile and growth of the Rio economy, this edition has several new features and will be a valuable tool for Brazilian or international businessmen wishing to invest in Rio de Janeiro: first, there is a whole section providing details about the main investment projects including important information about their value, potential market, business opportunities, implementation schedule and current stage of the venture. Second, it uses a groundbreaking approach by mapping out all the listed investments using the Google Earth software.

Through this initiative, FIRJAN is proud to place Rio de Janeiro at the forefront of technology as the first ever state to have georeferenced the announced investments for the coming years and made them available to investors. This tool also makes it possible to study new possibilities for investment and synergies, further proof of the advantages of investing in Rio de Janeiro. Lastly, Decision: Rio has been published in both Portuguese and English, as a result of the partnership with FIRJAN´s Infrastructure and New Investments Division and the International Business Centre (CIN) and its intention to make it a veritable map of opportunities for foreign investors.

By making this map and presenting it to the public and investors, FIRJAN is confident it is contributing to the economic development of Rio and attracting new investment to the state. With this document, Rio de Janeiro will definitively become a Decision instead of an option.

Executive Summary

Total forecast investment

Investment in Rio de Janeiro between 2008 and 2010 has been announced at US$ 50.8 billion, which will result in 310 thousand new jobs.

The transformation industry

The steel sector is leading the pack, with investments of US$ 8.27 billion which will account for 60% of the total investment to be injected into the transformation industry. The investments of Companhia Siderúrgica do Atlântico (CSA) and Companhia Siderúrgica Nacional (CSN) alone amount to nearly US$ 7.1 billion. In the petrochemical sector, the Rio de Janeiro Petrochemical Complex (Comperj) should be mentioned. This Petrobras investment is the largest in progress in Brazil and will come into operation in 2015. The investment entails some US$ 8.4 billion, US$ 2.98 billion of which will be made by 2010.

Other Petrobras Investments

Petrobras accounts for a significant chunk of the announced investments. The company has announced overall investment of US$ 18.8 billion in the period, or 37% of the total.

Infrastructure

Rio de Janeiro will receive substantial investments in infrastructure: US$ 13.5 billion, or 27% of the total.

. The state’s logistics infrastructure will be the main beneficiary, as nearly half of the funds will be directed to this area. The construction of the Metropolitan Ring Road, the implementation of the Açu Logistics Complex and the modernization of the Tom Jobim International Airport are some of the most important projects in the area, as they bolster Rio de Janeiro’s competitiveness.

. In energy infrastructure, the state will benefit from the implementation of Angra III – the nuclear power plant –, the construction of the Simplício hydroelectric power station and the Porto do Açu Thermo Electric Plant, which will raise its energy generation capacity. The total energy investment is in excess of US$ 5 billion, or 43% of the total forecast infrastructure investment.

Tourism

Investment of US$ 4.3 billion is forecast, mainly concentrated in the Costa do Sol region in Eastern Rio. Major tourist ventures are going to be implemented in Búzios, Maricá and Cabo Frio.

Regional distribution

Others The municipality of Rio de Janeiro will receive US$ 6.5 billion. In addition to the considerable investment in the steel sector, there is also wide investment in the naval industry, both in terms of orders and expanding/modernizing shipyards.

Petrobras Major investment will be made in Eastern Rio, in particular Comperj and Fazenda São Bento da Lagoa. In the Lowlands region, there are ventures in the Itaguaí Port catchment area, such as CSN and Coquepar’s facilities. In the North, the revitalization of the sugarcane plantations and implementation of new ethanol plants to supply the global ethanol market should be mentioned.

The Competitiveness of the Rio Economy

Rio de Janeiro state is experiencing a cycle of sustained development and its highly diversified economy generates the second-largest state GDP in Brazil. In 2006, Rio’s GDP broke the previous record of US$ 142.2 billion, accounting for 13% of national production. The state accounted for less than 11% ten years ago. In comparison with other Latin American countries, Rio’s GDP outstrips Chile, Colombia and Peru. Rio’s GDP per capita is the highest in Brazil and for the whole of South America.

The state occupies 43,910 Km2 of breathtaking land, with a long coastline and pleasant climate. It boasts excellent infrastructure (including airports, ports and extensive highways), and is privileged to be located at the epicenter of national production – some 65% of Brazilian production is located within 500 km of the state capital. With the highest rate of urban development (96.8%) and one of the lowest unemployment rates in Brazil (8%), its 15.6 million inhabitants enjoy high social, education and health care standards.

The current pace of development in Rio is set to quicken as a result of the substantial public and private investment scheduled for the coming years – nearly US$ 51 billion between 2008 and 2010. This positive outlook is due to the State’s healthy economy and greater co-operation between state and federal government.

The strength of the Rio economy is reflected in its exports, which are growing at a fast pace. In 2006 Rio exported over US$ 11 billion, an increase of 500% since 2000, taking it from 9th to 4th place in the ranking of exporting states in Brazil in the period. Closer analysis reveals that the oil extraction industry led the field in 2006 accounting for 58% of total exports, followed by the chemical (12%) and metallurgy (11%) industries. The progressive diversification of consumer markets and the products exported by Rio industry is further cause for cheer.

The state of Rio de Janeiro is also a major player in terms of taxation. In 2006 it posted current revenue of US$ 16 billion – higher than the total revenue (including all levels of government) recorded by Uruguay, Bolivia and Paraguay combined. The highest source of tax income is the Value-Added Tax on Sales and Services (ICMS). Amounting to US$ 6.9 billion, this tax accounted for 74.3% of Rio de Janeiro’s entire tax revenue in 2006. Classified as non-tax, financial revenue, oil exploration royalties were the second highest source of state revenue, amounting to US$ 2.4 billion in 2006.

Industry is the backbone of Rio’s economic growth. The State´s industrial sector is very dynamic and has progressed in the past ten years, recording productivity gains throughout the productive chain. The proportion of Rio’s GDP accounted for by industry leapt from 32% in 1997 to over 47% in 2004. There are approximately 550 thousand registered industry workers at over 21 thousand companies throughout the State. Moreover, the five largest Brazilian companies are headquartered in Rio de Janeiro.

The highest growth in the past ten years has been reported by the extraction industry in Northern Rio, playing a key role in the State’s industrial success. Its percentage of Rio’s GDP has rocketed from 3% in 1997 to the present-day figure of 20%. The State of Rio de Janeiro is now the highest producer of oil and natural gas in Brazil, accounting for 85% and 45% of national production respectively. Virtually inexistent in 1996, deep-water oil extraction has grown by an annual average of 19.6%, reaching the mark of 1.7 million barrels a day. This volume ranks Rio de Janeiro among the largest global oil producers, even outperforming OPEC countries like Algeria and Nigeria.

The billions of dollars generated by the oil sector have had a major knock-on effect on the other state industries. The royalties and shares of revenue extraction have yielded over US$ 4.7 billion for local governments in Northern Rio in the past ten years, nearly double the municipal tax revenue of the entire state. The gross domestic product obtained by oil producing cities in Rio more than tripled in real terms between 1999 and 2004 from US$ 9.19 billion to US$ 31.3 billion (according to IBGE calculations).

The major challenge facing these municipalities is to direct this income into enabling other industries and economic activities to grow that are not only connected to the extraction sector, as oil reserves tend to diminish in the long-term. Major investment is therefore being made in infrastructure, with plenty of opportunities arising as local governments attempt to attract companies. A range of industrial districts qualifying for tax incentives and generous financing therefore help to diversify the region’s economy.

External factors in the extraction industry also generate dividends for the petrochemical and oil refining industries. One of the most important investments under way is the Rio de Janeiro Petrochemical Complex – Comperj. Plastics production in the State will rise by an estimated 300% when Comperj commences production in 2015, boosting Rio’s GDP by as much as 7%.

The shipping industry also indirectly benefits from the oil sector. Rio’s shipping industry accounts for 75% of the national total. Rio de Janeiro’s shipyards are planning to create 55 thousand new jobs to meet the demand for ships and oil and gas production platforms. As a result, at least 20 shipyards have reopened or have been overhauled with state government support. This sector is also benefiting from the upturn in international trade, where demand for maritime freight has risen considerably in the past two years – which leads us to another hub of development: Rio’s ports.

The projected investment in Rio de Janeiro’s ports is revolutionizing the state’s logistics, especially at the ports of Açu, Itaguaí and Barra do Furado. The first port, a private venture of nearly US$ 2.4 billion, will mainly be used to ship iron ore. Located in the north of the State, in São João da Barra, this huge logistics terminal will be one of the deepest ports in Brazil, and could become the economic mainstay of the region. Also known as Sepetiba Port because it is located in Sepetiba Bay, Itaguaí Port occupies 10 million m2 in downstate Rio, and has the potential to become a hub for the whole of South America, after the dredging work has been concluded and the new terminal built. It will gain further economic importance when the Metropolitan Ring Road has been built. Construction of the ring road, integrating the five major highways in Brazil, is scheduled to begin in 2008.

The steel sector in downstate Rio is also undergoing major expansion and could become the center of the largest steel industry complex in Brazil, developing research activities and other production activities associated with the production of steel. With this major investment combined with the support of the FIRJAN System for training the workforce, and in spite of not actually producing the unprocessed ore, the State will consolidate its influence over operations involving both raw materials and finished products in the domestic and international market.

The advance of the automobile industry is a further example of Rio’s economic potential and dynamism. In a decade Rio de Janeiro has seen the region of Médio Paraíba (especially the municipalities of Resende and Porto Real) become an important center for the Brazilian automobile industry. The region offers tax incentives and is making infrastructure investments in order to boost the productive chain and attract suppliers.

Lastly, Rio’s tourism industry is undergoing expansion and revitalization. With over 25 thousand rooms, 70% of which are booked every year, it is the most visited city in Brazil. In 2007, it achieved two important victories which have become real milestones for the sector – the election of Christ the Redeemer as one of the New Seven Wonders of the World and the successful holding of the Pan American games. Both these initiatives were supported by the FIRJAN System. The sector’s new commercial front, however, consists of boosting business tourism and taking tourism downstate. This will be bolstered by the construction of resorts in several sites on Rio’s coastline. Fresh investment to improve infrastructure for organizing congresses, fairs and events, in addition to training the inland population, is therefore on the way.

Rio de Janeiro state is now a land of opportunity for national or international businessmen in a wide variety of sectors. This latest edition of Decision Rio is an investor map and provides a more comprehensive view of the development process the State is undergoing. The State’s driving force is not only based on its past dynamism but also the range and diversity of future public and private investment. Disclosing this process is part of the FIRJAN System’s mission to support development in Rio de Janeiro by fostering entrepreneurialism, as evidenced by the descriptions of the following projects.

Investments Announced for 2008-2010 in Rio de Janeiro

Investments in Rio de Janeiro

A total of US$ 50.8 billion will be invested in the State of Rio de Janeiro between 2008 and 2010, which will generate an estimated 310 thousand jobs or more. This will involve national and foreign, public and private investments to implement new facilities or modernize and expand existing facilities. The funds earmarked for new plants account for 51% of the total, and the remaining 49% refers to brownfield investments and construction of vessels.

The investment will be ploughed into various economic sectors, involving both new segments and segments in which the state already has a natural vocation. This will therefore generate countless business opportunities in Rio de Janeiro.

By sector

Industrial investment accounts for 64% of the total forecast, or US$ 32.6 billion. This encompasses investments in the transformation industry amounting to US$ 13.8 billion and Petrobras’ investments of US$ 18.8 billion in the period in question.

The Transformation Industry

Steel sector investment accounts for 60% of the total investment to be injected into the Rio de Janeiro transformation industry: US$ 8.27 billion will be invested by 2010. Of this total, 96% (US$ 7.9 billion) will be used to build four new plants.

The heaviest investments will be made by Companhia Siderúrgica do Atlântico – CSA (US$ 3.4 billion) and Companhia Siderúrgica Nacional – CSN (US$ 3.6 billion). In addition to these projects, the Votorantim group and Gerdau are also constructing a new plants which will require US$ 480 million and US$ 440.8 million respectively.

In addition to these projects, we should mention the expansion of Siderúrgica Barra Mansa, owned by the Votorantim Group and located in Southern Rio de Janeiro, and Cosigua, a steelworks in the city of Rio de Janeiro owned by the Gerdau Group.

Construction of the Rio de Janeiro Petrochemical Complex – Comperj is another major investment. This complex is the largest investment in Petrobras’ history: US$ 8.4 billion will be invested by 2015 (almost US$ 3 billion by 2010) in the municipality of Itaboraí, which will radically transform the economy of this municipality and neighboring municipalities. This involves buidling of a petrochemical refinery, a Basic Petrochemicals Plant (UPB) and a set of Associated Petrochemical Plants (UPAs). In turn, the adjacent municipality of São Gonçalo will receive the Liquid Products Distribution Center and the Integration Center. Petrobras estimates the venture will generate some 212 thousand direct and indirect jobs.

In addition to investment in the steel sector, considerable investment will also be made in the naval industry. The investments to be made to expand and modernize shipyards and to meet shipowners’ orders stand at US$ 1.2 billion, including orders made by Transpetro (a Petrobras subsidiary).

Petrobras Investments

In the period 2008 to 2010 Petrobras’ projected investment in Rio de Janeiro state stands at US$ 18.8 billion. These investments involve development of natural gas and oil production in Bacia de Campos, the construction of gas pipelines and natural liquefied gas terminals, construction of a new integrated data processing centre, expansion and modernization of CENPES, and expansion of the Duque de Caxias refinery (REDUC), among others. Although we cannot give a detailed breakdown of this investment, Petrobras has disclosed the overall amount and timeframe for its investment plan.

Infrastructure

Rio de Janeiro state will receive substantial investment in infrastructure in the coming years: US$ 13.5 billion will be invested, accounting for 27% of the total forecast until 2010.

The graph shows that nearly half the funds will be invested in logistics. In this category, the investment in the Metropolitan Ring Road of US$ 380 million stands out. The Ring Road, which will circle the Metropolitan Region, will connect major national highways to Itaguaí Port. It will also interconnect the two largest investments in progress in the state, CSA and Comperj, and will also go through the Lowlands. This region will receive major investment in the period under analysis and is where the state’s chemical and gas hub is located.

Alongside the Metropolitan Ring Road, the investment to be made in the Tom Jobim International Airport and the implementation and construction of the Açu Logistics Complex in São João da Barra will bolster Rio de Janeiro’s logistics advantages.

It’s also important to point out an investment of US$ 5.8 billion to be made in electricity transmission and generation in the period in question. The chief investments in electricity generation are the construction of Angra 3 (investment of US$ 2.3 billion), the Simplício hydroelectric power station (US$ 455 million) and Porto do Açu Thermo electric plant (US$ 1.9 billion).

Tourism

In the tourism sector, investment for the period 2008-2010 amounts to US$ 4.3 billion, or 8% of the projected total for the state. The main investment involves large-scale tourist ventures in the Costa do Sol region, especially in the municipalities of Búzios, Maricá and Cabo Frio.

The largest investment, Fazenda São Bento da Lagoa in the municipality of Maricá, will inject US$ 3.8 billion into the local economy. The project entails the creation of a resort in an area occupying 8 square kilometers and will be implemented by a group of Portuguese and Spanish investors. Because the land the investors have already acquired is located in an environmentally protected area, execution of the project is still subject to an environmental license.

Other resorts are also being planned for the region. US$ 56.9 million will be invested in Superclubs Breezes, in Búzios, and US$ 284.4 million will be invested in the Reserva do Peró, in Cabo Frio.

Eastern Rio

Eastern Rio will receive 15% of the total, i.e. US$ 7.6 billion. Nearly half of this amount refers to the implementation of Comperj, which should attract 3rd generation petrochemical (plastics) companies to the surrounding region. The region will also receive a number of tourist projects in Búzios, Cabo Frio and Maricá, as mentioned earlier, with considerable potential to attract trade and service companies comprising the productive tourism chain.

Municipality of Rio de Janeiro

A significant chunk of the investment earmarked for the naval sector has been allocated to the municipality of Rio de Janeiro. Nine out of a total of thirteen ships to be procured by Transpetro will be built by the Rio Naval Consortium – consisting of MPE S.A. Participações e Administração S.A., which has a 90% interest and Sermetal Estaleiros Ltda. which holds the remaining 10%. The total value of these orders is US$ 928 million.

The shipyard Estaleiro Ilha S.A. (EISA) has also received orders for five container-ships from Log-In, the logistics wing of Vale, and two bulk cargo vessels from Laurin do Brasil. These contracts are jointly worth somewhere in the region of US$ 250.2 million up to 2010. Including the orders to build a bulk cargo vessel, EISA’s orders amount to US$ 369.4 million.

The main investments in the municipality are the steel ventures in the vicinity of Itaguaí Port. With an investment of US$ 3.4 billion, CSA is the new ThyssenKrupp and Vale plant and will be erected in Santa Cruz. The new Gerdau Group plant will also be built in Santa Cruz (US$ 440.8 million). The expansion of Cosigua is projected in the same region (US$ 227.5 million).

Michelin has also announced two projects in the eastern zone of Rio, in the vicinity of Itaguaí Port, worth some US$ 298 million. One project involves the construction of a new factory for producing mining and landscaping tires at the existing plant, which will be expanded to produce large tires. The other project also involves plant expansion, producing industrial tires.

In conjunction with these investments, the public construction projects to be put out to tender present a major opportunity for the civil construction sector. US$ 194.2 million will be invested in urban development projects in the slums of Alemão, Rocinha and Manguinhos. The municipal government of Rio de Janeiro also has plans to expand the public transportation system by building a connection between the neighbourhoods of Barra da Tijuca and Penha by integrating bus and subway transportation. The project has been budgeted at US$ 273.5 million and the procurement process is due to begin. Major investment is also planned to modernize the Tom Jobim International Airport, which is also part of the Federal Government´s growth acceleration program (PAC) and will involve US$ 80.6 million; to revitalize the Rio Port in a public-private partnership which will require US$ 116.1 million by 2010 and to expand the Rio subway line that will run to Praça General Osório, in Ipanema, and will absorb US$ 146 million.

Lowlands – Area 1

Total investment of US$ 4.1 billion is projected for the Lowlands region, which is also in the Itaguaí Port catchment area. The chief investment involves construction of CSN’s new plant, at a cost of US$ 3.6 billion, which complements the steel ventures projected for the region. Jointly they will make the state an important national steel hub.

Companhia de Coque Calcinado de Petróleo S.A. (COQUEPAR) will also invest in the town of Seropédica in the region. This investment of US$ 160 million will be made through a partnership between the companies Petroquisa, Unimetal and Brazil Energy. The company was set up to roast green oil coke and will be able to produce 250 thousand tons a year.

US$ 250.8 million will be invested in Itaguaí Port. This will be used for dredging (US$ 94.8 million) and to build a new solid bulk terminal (US$ 156 million), chiefly for handling iron ore.

Northern and Northwestern Rio de Janeiro

In Northern Rio de Janeiro the development of the Açu Complex, an LLX project worth around US$ 2.3 billion, is the largest one in the region. This involves the construction of a port terminal in São João da Barra, a pelletization plant, offshore piers with the capacity to dock large ships and a thermoelectric power station which will be operating by 2012 at a cost of US$ 2.5 billion (US$ 1.9 billion by 2010).

There are also major new investment projects in the sugar and ethanol sector to be implemented in Northern Rio de Janeiro, mainly driven by the expected growth in the global ethanol market. These projects are highly important for the sector in the region, which used to be a major sugarcane producer. The forecast investments include the Alcana Agroenergética project, involving construction of a plant in the town of Campos which will produce 45 million liters of ethanol per year. Alcana’s investment amounts to US$ 142.2 million.

A sizeable investment of US$ 85.3 million will also be made by Elcana, also to be implemented in Campos, in addition to Dequisa’s project in Quissamã worth US$ 18.9 million.

In the Northeastern region of Rio de Janeiro we would like to highlight the Agroindústria Bom Jesus do Itabapoana project – in the town of Itabapoana. This involves an ethanol plant that will start operating in 2009 and will generate 7 thousand direct and indirect jobs in an investment worth US$ 118.5 million.

Southern Rio de Janeiro

The main investments in Southern Rio de Janeiro are in energy, mainly consisting of the implementation of the nuclear power station Angra 3, to be built in Angra dos Reis in the Almirante Álvaro Alberto Nuclear Centre (CNAAA), which already houses the nuclear power stations Angra 1 (600 MW) and Angra 2 (1350 MW). Increasing the energy supply will further improve the state’s infrastructure.

The Votorantim Group is also going to make major steel investments in the region. The first investment involves construction of a new steelworks in Resende worth US$ 480 million and the other refers to modernization of the Siderúrgica Barra Mansa steelworks in order to increase installed capacity in Barra Mansa.

Another major investment in Volta Redonda worth US$ 113 million is the implementation of CSN’s cement factory, which will initially produce 1.5 million tons and generate 70 direct and 180 indirect jobs.

Portfolio of the main investments and Opportunities in Rio de Janeiro

Description of the investments and opportunities

The following pages contain summarized information about the main investments compiled by the study. They include the following data:

. Industrial segment

. Physical location

. Participants

. Description of the project and investment value

. Potential market

. Timetable and status (referring to the 4th quarter of 2007). Note that investments in Brazil are subject to environmental license. This process starts by submitting an environmental impact study and report (EIA / RIMA), which obtains a preliminary license for the investor. After public hearings have been held in the places affected, investors have to make adjustments to the project in order to obtain the installation license, which gives the go-ahead for construction work to begin. When the construction has finished, the operating license is issued which allows operations to start.

. Business opportunities

Further information about the investments or business opportunities described can be obtained by sending an e-mail to riodejaneiro@multifocoassessoria.com.br.

Both the Infrastructure and New Investments Division and the International Business Centre (CIN) can provide the support required by potential national or international investors wishing to set up in Rio de Janeiro or do business with companies in Rio. Also note that the map of these investments is also available using Google Earth software.

Decision Rio – Steel sectors investments

In the period 2008-2010, Rio de Janeiro will receive major investment in the steel sector, which will make the state the largest steel producing region in Brazil. These investments are important both in terms of size and the economic impact they can generate in the state, especially as the sector has an extensive productive chain upstream and downstream, as illustrated in the figure below, which clearly indicates the range of industries that can benefit from this kind of venture.

Companhia Siderúrgica do Atlântico (CSA)

. Segment: Steel.

. Location: Municipality of Rio de Janeiro.

. Participants: 1) ThyssenKrupp Steel (90%); 2) Vale (10%).

. Project description: Implementation of a steel complex including a thermoelectric power station, a coking plant and a port terminal, in addition to a steel works. The steel works’ production capacity is projected at 5 million tons/year of steel sheets for export and the coking plant will have the capacity to produce 1.4 million tons/year of coke. The implementation of CSA is the largest investment that the German company ThyssenKrupp Steel has made in Brazil. The construction stage is expected to generate 18 thousand jobs and the operating stage 3,500 direct jobs and roughly 15 thousand indirect jobs.

. Potential market: CSA will export its entire production. The company estimates it will export 2 million tons to its facilities in Germany and other European countries. The remaining 3 million tons will be exported to North America, mainly the US.

. Investment value: US$ 3.4 billion.

. Implementation timetable: Construction of the port will be completed in August or September 2008 and the steelworks should be completed by December that year. Operations are expected to start in March 2009.

. Description of the opportunities: Supplying of goods and services during the construction stage, given that most of the engineering work has already been contracted out; installation of the metal and mechanical industries around the venture to supply goods and services after operations have started; installation of trade and services, in addition to residential constructions to meet the demand for new accommodation that will arise in the district of Santa Cruz and neighboring towns.

. Status: Construction work started in June 2007.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Although even greater investments have been projected, the construction of CSA is the largest private investment currently in progress in Brazil and will significantly alter the dynamics of the local economy. By way of SENAI-RJ, the FIRJAN System has been working in partnership with CSA, providing training for the local workforce, thereby eliminating the problems that a disorganized migration of workers from other areas could inflict on regional development.

Companhia Siderúrgica Nacional (CSN)

. Segment: Steel.

. Location: Itaguaí – Lowlands – Area I.

. Participants: Companhia Siderúrgica Nacional (CSN).

. Project description: construction of a steelworks with three blast furnaces in the area of Itaguaí Port with an annual production capacity of 4.5 million tons of steel sheets for export. It is estimated that 2.5 thousand direct jobs will be created. CSN’s investment will be the largest such investment to be made in the Brazilian steel sector in the next three years, surpassing CSA’s.

. Investment value: US$ 3.6 billion.

. Potential market: the new steelworks’ output will mainly be for export, especially to meet the demand of its own plants in Portugal (Lusosider) and in the US (CSN LLC).

. Implementation timetable: the steelworks is projected to start operating in 2009. However, this date is expected to be put back due to the current stage of implementation and Baosteel’s decision to pull out of the partnership that was being studied for the project. The company’s difficulty in establishing itself as a global player has also hindered the project, as any change in the company’s strategy could affect the implementation of the project.

. Description of the opportunities: CSN’s potential interest in finding a new partner to replace Baosteel; demand for the services of engineering and civil construction companies; installation of the metal and mechanical industries around the venture to supply goods and services after operations have started; installation of trade and services, in addition to residential constructions to meet the demand for new accommodation that will arise in the district of Itaguaí and the surrounding area.

. Status: the Company has obtained the preliminary license and is awaiting the installation license and definition of the company’s strategy to start building.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

CSN’s total investments in Brazil will treble the company’s production capacity in the coming years. Rio de Janeiro will play an important role in this process, since 40% of this total will be invested here.

Votorantim

. Segment: Steel.

. Location: Resende – Southern Rio de Janeiro.

. Participants: Votorantim Group.

. Project description: construction of a new steelworks with the capacity to produce 1 million tons of wire rods and beams. It is estimated that 4,300 direct and indirect jobs will be created when the steelworks starts operating. The steelworks will be built on land occupying 4.3 million square meters, 50 km from the Group’s other steelworks, Siderúrgica Barra Mansa.

. Investment value: US$ 480 million.

. Potential market: the output will be sold to the domestic steel market for civil construction.

. Implementation timetable: the project will be implemented over two phases: in the first phase US$ 408 million will be invested, resulting in annual production of 500 thousand tons of flat steel as from 2009. In the second stage, which will be determined by demand, US$ 72 million will be invested, adding 500 thousand tons a year to the company’s production capacity.

. Description of the opportunities: installation of the metal and mechanical industries around the venture to supply goods and services after operations have started; installation of trade and services to serve the expanding income of the local population. Installation near the venture of industries that use the inputs in their production, in order to cut logistics costs. Supplies to the engineering companies carring out the construction.

. Status: work on the foundations has begun and construction has started.

The Votorantim Group is one of the largest national private groups and operates in several sectors such as cement, paper and pulp, and energy among others. The group produces long steels, used in civil construction, at its Siderúrgica Barra Mansa steelworks, in southern Rio de Janeiro state. Its current production capacity is 600,000/tons a year. However, the new investment the group is planning, which in total amounts to US$ 600 million, not only ensures the Group’s production capacity will reach 2 million tons a year, but will also make it a major player in long steel production.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Siderúrgica Barra Mansa

. Segment: Steel.

. Location: Barra Mansa – Southern Rio de Janeiro.

. Participants: Votorantim Group.

. Project description: Votorantim has operated in the long steel segment since 1937, when Siderúrgica Barra Mansa was founded in the state of Rio de Janeiro. The steelworks currently has the capacity to produce 580 thousand tons of long steel a year, mainly produced for the domestic civil construction sector. The investment projected by the company aims to expand and modernize the steelworks, which will start producing 655 thousand tons/year.

. Investment value: US$ 120 million.

. Potential market: Southern and Southeastern Brazil.

. Implementation timetable: the steelworks will start operating in 2009.

. Description of the opportunities: demand for the services of engineering and civil construction companies; installation of metal and mechanical industries around the venture to supply goods and services after operations have started.

. Status: preliminary license has already been obtained. The company is now awaiting its installation license to start building.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Decision Rio – Petrochemical Investments

Rio de Janeiro state is the largest oil producer in Brazil. The Bacia de Campos accounts for 85% of oil production, meaning that the oil industry and related sectors are a major presence in the state. Rio de Janeiro is home to the Duque de Caxias refinery (REDUC), owned by Petrobras and a major national producer of oil-derived products, and the chemical gas hub in Duque de Caxias, housing first, second and third generation petrochemical companies, including Riopolímeros. The projected investment for the period 2008- 2010 – in particular the construction of Comperj, in Itaboraí – is expected to further the natural vocation of Rio de Janeiro, attracting a significant number of third generation companies seeking a competitive edge from the easy access to raw materials. This sector is accordingly expected to substantially boost the Rio de Janeiro economy in the coming years, creating employment, income and opportunities for its inhabitants and industry. The main investments in the petrochemical industry in the coming years are described below.

Plastics Industry – Description of the Investments and Opportunities

Comperj – Rio de Janeiro Petrochemical Complex

. Segment: Petrochemical.

. Location: Itaboraí and São Gonçalo – Eastern Rio de Janeiro.

. Participants: Petrobras, the Ultra group and the BNDES – National Social and Economic Development Bank.

. Project description: installation of the Rio de Janeiro Petrochemical Complex (Comperj) in an area occupying 20 million m2. In a single industrial plant, this will house the 1st generation refinement plant or Basic Petrochemicals Plant – UPB, the set of 2nd generation plants or Associated Petrochemical Plants – UPAs and a Utilities Centre – UTIL, which will provide the water, steam and electricity required by the Complex’s entire operation.

UPB will consume at least 50% of the total investment, and will produce the following basic petrochemicals: a) Ethene – 1.3 million tons/year, b) Propene – 880 thousand tons/year, Benzene – 600 thousand tons/year and c) Paraxylene – 700 thousand tons/year. The UPAs will transform these basic products into petrochemicals such as: Styrene – 500 thousand tons/year, ethylene glycol – 600 thousand tons/year, polyethylene – 800 thousand tons/year, polypropylene– 850 thousand tons/year and PTA/ PET – 500 thousand/600 thousand tons/year.

Comperj has pioneered new technology, developed by the Petrobras Research Centre – CENPES, based on a differential that gives it an advantage over other refineries: the operation uses the heavy oil as a raw material, a product exported by Brazil. This groundbreaking technology could save Brazil over US$ 2 billion/year in foreign currency, as Brazil’s heavy oil refining capacity will rise, meaning imports of derivatives such as naphtha and petrochemical products will fall.

The project also includes the Liquid Products Distribution Centre and the Integration Centre, both in São Gonçalo. The Distribution Centre is being built to optimize distribution between Itaboraí and the loading terminals in Guanabara Bay. Construction of the Centre has been budgeted at US$ 200 million. The São Gonçalo Integration Centre will train staff for Comperj.

The investment will generate 212 thousand direct and indirect jobs, in addition to boosting local income, according to preliminary Petrobras figures.

. Investment value: US$ 8.39 billion, of which US$ 2.98 billion is scheduled for the period 2008-2010.

As the largest investment in progress in Brazil, Comperj could generate both positive and negative impacts in the region where it will be installed, if no thought is given to public policies for human, urban and industrial development in the surrounding area. Aware of this conundrum, by way of SENAI the FIRJAN System will qualify part of the region’s population so that employment opportunities can be given to the locals. The FIRJAN System’s Social Responsibility division is also working in conjunction with local municipalities to mitigate other adverse effects that could arise in the process. The FIRJAN System recently commissioned a study to estimate the economic impacts of this investment.

By cross-referencing infrastructure demand and supply in municipalities, the study identifies regional potential, thereby avoiding predatory competition by the municipal governments to attract investors.

. Potential market: Comperj’s output will be sold on the domestic market.

. Implementation timetable: Basic Engineering – Expected to be concluded mid-2008.

Construction work and assembly – to start mid-2008 and to finish by 2012.

. Full operation: 2015.

. Description of the opportunities: Comperj is the largest investment ever made by Petrobras and the largest industrial investment in Brazil in the coming years. The venture will have a major impact on Eastern and Central and Northern Rio, especially the towns of Itaboraí, Cachoeiras de Macacu, Casimiro de Abreu, Guapimirim, Magé, Maricá, Niterói, Rio Bonito, São Gonçalo, Silva Jardim and Tanguá, and will therefore benefit the economy of Rio de Janeiro.

During the construction phase, most of the opportunities will involve engineering work, mainly in the engagement stage, and the provision of a range of goods and services. During the construction there will also be considerable demand for accommodation and trade and services by the sizeable workforce allocated to the project.

Comperj will be responsible for attracting the third generation plastics industry to the surrounding area – producing items like plastic bags, clingfilm, packaging, supermarket bags, bumpers and other products – as a result of the voluminous raw materials it will generate. Petrobras estimates the venture could attract 200 companies involving investments of around US$ 200 million. Together they will have a turnover of some US$ 600 million a year and create 4,000 jobs. In addition to the opportunities for the 3rd generation plastics industry, opportunities are also available for the petrochemical production chain, i.e. the provision of machinery, equipment and services to build and operate the venture. As this investment will have a major impact on the local economy, and its present services and production infrastructure is far from capable of meeting the demand generated by the venture, opportunities will be available in various industrial and service sectors.

. Status: basic engineering work in progress, RIMA submitted, awaiting license.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Companhia de Coque Calcinado de Petróleo (Coquepar)

. Segment: Petrochemical.

. Location: Seropédica – Lowlands Area 1 – near Itaguaí Port.

. Participants: Petroquisa, Unimetal and Brazil Energy.

. Project description: the Coquepar project involves the construction of two plants, each with a capacity of 250 thousand tons/ year, to roast green coke oil – CVP. The new plants will sell calcined oil coke (CCP) and electricity generated by steam from the calcination process.

The two plants to the built in Rio de Janeiro will create 500 direct jobs and 1,800 indirect jobs during project implementation (plant construction/assembly – 3 years).

. Investment value: US$ 160 million.

. Potential market: most production (85%) will be exported to the international market, where demand for CCP is rising.

. Implementation timetable: construction work on the first unit is projected to start in the 2nd quarter of 2008 and to end in the 4th quarter of 2009. Construction work on the 2nd plant in Rio de Janeiro is projected to start in 2009 and end at the end of 2010.

. Description of the opportunity: civil construction, provision of technology, machinery, equipment and consumables required by the plants’ operations. Construction of the two plants will also increase supplies of the raw material CCP for the aluminum market.

. Status: the company is finalizing the RIMA.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Description of the Investments and Opportunities – Construção Naval

Almost completely shut down in the 1990s, in 2000 the Brazilian naval industry began progressively reactivating its shipyards, boosted by refurbishing and construction of Petrobras platforms and orders to support deep-water oil production and exploration. This trend has particularly benefited Rio de Janeiro, which has traditionally had a large contingent of workers in this industry and a significant number of shipyards. In fact, in recent years some 20 shipyards have reopened in the state, meaning thousands of jobs being created in the sector and opportunities being generated in the chain of suppliers that serve the naval construction industry. The prospects of continued growth in the sector, due to increased international trade – which requires more, larger vessels – or due to greater coastal trade and the expansion of the oil industry, are particularly encouraging for this sector in Rio de Janeiro.

The main investments referring to ship construction follow.

The Rio Naval Consortium

. Segment: naval construction industry.

. Location: Municipality of Rio de Janeiro.

. Participants: Rio Naval Consortium, made up by companies MPE Participações e Administrações, Sermetal Estaleiros and Petrobras Transportes S.A. (Transpetro).

. Project description: nine oil tankers will be built by the Rio Naval Consortium.

. Investment value: US$928.9 million, US$348.3 million by year 2010.

. Implementation timetable: the construction of the ships complies with Transpetro’s Fleet Modernization and Expansion Program, which will be carried out by 2015, and construction will take from 16 to 20 months. The ships built in Rio de Janeiro will be delivered in 2009 and 2010.

. Description of the opportunity: provision of machinery and equipment for the shipyard, an opportunity for the ship parts industry. There is a requirement that sixty-five percent of the parts that are used in building the ships be manufactured in Brazil.

. Status: the outcome of the bidding process for the consortium (Rio Naval Consortium) that will build the ships has already been disclosed. Contracts have been signed.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Mauá-Jurong Consortium

. Segment: naval construction industry.

. Location: Niterói – Eastern Rio.

. Participants: Estaleiro Mauá and Transpetro.

. Project description: construction of four oil tankers for the transportation of petroleum derivatives.

. Investment value: US$ 318.6 million, US$111.4 million by 2010.

. Implementation timetable: the construction of the ships complies with Transpetro’s Fleet Modernization and Expansion Program, which will be carried out by 2015, and construction will take from 16 to 20 months. The ships built in Rio de Janeiro will be delivered in 2009 and 2012.

. Description of the opportunity: provision of machinery and equipment for the shipyard, an opportunity for the ship parts industry. There is a requirement that sixty-five percent of the parts that are used in building the ships be manufactured in Brazil.

. Status: the outcome of the bidding process for the consortium (Mauá-Jurong S.A. Consortium) that will build the ships has already been disclosed. Contracts have been signed.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Aliança

. Segment: naval construction industry.

. Location: Rio de Janeiro.

. Participants: Estaleiro Aliança for CBO.

. Project description: construction of four new platform support vessels by the shipyard Aliança for Companhia Brasileira de Offshore (CBO).

. Investment value: US$ 100 million.

. Timetable: the vessels will be delivered by December 2009.

. Description of the opportunity: supply of machinery and equipment by the metal and mechanical sector.

. Status: under construction.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Aker Promar

. Segment: Naval construction industry.

. Location: Niterói – Eastern Rio.

. Participants: Aker Promar, Dofcon Navegação and GEO Navegação e Pesquisa.

. Project description: construction of an OSCV (Offshore Support and Construction Vessel) and a ROV (Remotely Operated Vehicle Vessel) at the shipyard Aker Promar for the Norwegian shipowner Dofcon Navegação and GEO Navegação e Pesquisa.

. Investment value: US$ 168 million.

. Timetable: the ROV will be delivered in May 2008 and the OSCV in October 2008.

. Description of the opportunity: supply of machinery and equipment by the metal and mechanical sector.

. Status: under construction.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

RENAVE

. Segment: Naval construction industry.

. Location: Niterói – Eastern Rio.

. Participants: Renave and De Lima Comércio e Navegação.

. Project description: construction of a raft with the capacity to hold 4,000 m3 of liquid bulk and an LH (Line Handler), used in the shipping or anchoring of platforms.

. Investment value: US$ 19 million.

. Timetable: delivery scheduled for the first quarter of 2008.

. Description of the opportunity: supply of machinery and equipment by the metal and mechanical sector.

. Status: under construction.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

EISA

. Segment: Naval construction industry.

. Location: Rio de Janeiro.

. Participants: EISA, Log-In and Laurin do Brasil.

. Project description: construction of five containerships by Estaleiro Ilha (EISA) for Log-In, the logistics division of Vale, by 2013 and construction of two bulk cargo vessels for Laurin do Brasil. EISA has also received orders from Gybsum Transportation LTD. to construct a bulk cargo vessel. To attend all these orders EISA will invest to modernize the shipyard.

. Investment value: the Vale orders worth US$ 314.7 million and Laurin’s contracts amount to US$ 150 million. The bulk cargo vessel will cost US$ 119.4 million. To modernize the shipyard EISA will invest US$ 4.2 million.

. Timetable: construction of Log-In and Laurin do Brasil’s vessels will commence shortly after the BNDES has released the funds of Fundo da Marinha Mercante (FMM).

. Description of the opportunity: supply of machinery and equipment by the metal and mechanical sector.

. Status: the first stage to obtain the funds to finance the projects has been completed, and negotiation of the contracts has commenced.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Barra do Furado Logistics and Industrial Complex

. Segment: Naval Industry.

. Location: Campos and Quissamã – Northern Rio de Janeiro.

. Participants: Aker Yards, Chouest Alfanave, the Quissamã Municipal Government and the Campos Municipal Government.

. Project description: construction of a shipyard to build ships up to 150 meters in length in the district of Barra do Furado (Quissamã) and, in the municipality of Campos, a port logistics base to support the production of oil and gas in Bacia de Campos. The shipyard will create 1,200 direct and around 2,400 indirect jobs.

. Investment value: US$ 52.13 million: US$ 47.39 million in the shipyard and US$ 4.74 in the offshore base.

. Potential market: the shipyard will meet the Brazilian merchant navy’s demand for medium-sized containerships and bulk cargo vessels. The offshore base will meet the demands of Petrobras and other companies operating in oil exploration in Bacia de Campos.

. Implementation timetable: the complex is projected to start operating in 2009.

. Description of the opportunity: when completed, the complex will attract various suppliers of services to the naval industry, in addition to segments of the metal and mechanical sector. The investment will also considerably boost income in the Quissamã economy, resulting in a direct increase in demand for local trade, services and accommodation.

. Status: in the process of obtaining the environmental license.

Located on the coast, between two municipalities, the new industrial venture involves installation of a shipyard for building and repairing ships in Barra do Furado (Quissamã) and a support base for the offshore exploration and production of oil in Farol de São Tomé (Campos). In addition to the dredging project, which is now ready, a bypass is also projected which will reduce the silting in Quissamã and the erosion in Campos, shifting 3 million cubic meters of sand from Quissamã to Campos. The sand shifting project will be conducted by Brazilians and Australians, using Australian technology.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Decision Rio: Government Investments

In the period 2008-2010 Rio de Janeiro will receive major government investment in the infrastructure and logistics sectors. These investments which are essential for the development of the state derive from federal, state and municipal funds. The investments generate opportunities to participate in procurements, to present projects and to provide goods and services for the engineering companies that win the tenders. Furthermore, the following investments will all have a major impact on the regions they are made in, which will present opportunities for trade and services companies to set up shop. Details of the main investments in this category follow.

Metropolitan Ring Road

. Segment: Logistics Infrastructure (Highways).

. Location: the ring road will pass through the towns of Itaboraí, Guapimirim, Magé, Duque de Caxias, Nova Iguaçu, Japeri, Seropédica and Itaguaí.

. Participants: Federal Government / Rio de Janeiro State Government.

. Project description: the Rio de Janeiro State Metropolitan Ring Road is a ring road that will circle the metropolitan region providing easy access to Itaguaí Port from all of Brazil’s highways through five main roads that will be connected by the project and will converge in Rio de Janeiro.

The ring road will have an approximate length of 145 km, split into 4 stretches. The three stretches which already exist will be revamped and a new 72 km stretch will be built. This venture involves the construction of 9 bridges, 5 viaducts, 3 underpasses and 3 foot bridges, in addition to dual carriageways. It will be a long highway with an average speed limit of 100 km/h. It will also connect the two largest ventures in the state, CSA and Comperj, and will run through the chemical gas hub in Duque de Caxias.

At the start of 2007 the Metropolitan Ring Road was included in the Federal Government’s Growth Acceleration Program (PAC), which encompasses several areas including energy, education and infrastructure, and is considered of the highest importance for the development of Brazil. The PAC stipulates that the funds for this investment are assured, meaning it represents a real opportunity for realization.

. Investment value: the estimated cost to build the new stretch is US$ 380 million.

. Implementation timetable: construction work should start in the first quarter of 2008 and should last for two years.

. Description of the opportunities: Participation in procurements. The construction work will generate lots of opportunities for the civil construction sector. The ring road will also run through major ventures in the state, such as CSA, CSN, Comperj, and the chemical gas hub in Duque de Caxias, which in conjunction with the proximity to the port will present major opportunities for industry, trade and logistics centers to set up along the new stretch.

. Status: public hearings have been held. The state government, which is spearheading the project, has obtained the environmental license.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

The FIRJAN System has been calling for the construction of the Metropolitan Ring Road for over ten years because of its importance for the development of Itaguaí Port and Rio de Janeiro. This assertion is stated in the Rio de Janeiro Development Map published in August 2006 by the FIRJAN System. This map presents the initiatives that Rio’s business community considers necessary for Rio de Janeiro state to adequately develop into order to achieve higher standards of income and human development in 2015.

Bullet Train

. Segment: Infrastructure (passenger transportation).

. Participants: private Sector, type of concession organized by VALEC – Engenharia, Construções e Ferrovias S.A. (a privately held corporation controlled by the Federal Government and supervised by the Ministry of Transport).

. Project description: railway connection between the state of Rio and Sao Paulo by bullet train. The project as it stands states that the train will travel the 403 km at a commercial speed of 285 km/h. The journey will take some 85 minutes, and will be direct. The trains will depart at 15-minute intervals and tickets are expected to cost US$ 60.

. Investment value: according to the company that produced the executive plan proposal for the venture, Italplan Engineering Environment & Transports S.p.A, the total value of the investment is around US$ 9 billion. This figure includes US$ 8.5 billion on infrastructure and US$ 474 million on other expenses, such as project costs, insurance and extraordinary expenses.

. Potential market: Italplan is projecting potential demand of 32 million passenger/year for 2013, equal to 89,300 passengers/day.

. Implementation timetable: according to VALEC’s timetable, the tender for the venture (which can only occur after the feasibility studies have been produced and the preliminary environmental license obtained) should occur in October 2007, and construction work will start at the end of 2008. However, questions about the validity of Italplan’s projections meant the government has had to re-evaluate the entire study and put back deadlines.

. Description of the opportunity: presentation of new projects, participation in future procurements

. Status: the project is being analyzed by the BNDES – National Social and Economic Development Bank.

The Rio de Janeiro Metropolitan region is currently home to some 11.4 million people. If it were a country, it would be ranked 73rd in the ranking of 194 countries, ahead of various European countries like Belgium, Portugal and Greece. Interconnecting the Metropolitan regions of Rio de Janeiro and Sao Paulo, the largest cities in Brazil, will acquire progressive importance in the future. The challenge is enormous: by 2015 the two states will have a joint population of over 63 million, higher than France’s. Improved public transport is essential for properly developing both the regions and the country.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Urban Development of Slums

. Segment: Infrastructure (Urban development).

. Location: Metropolitan Region of Rio de Janeiro.

. Participants: Federal Government / Rio de Janeiro state and municipal government.

. Project description: Urban development of slums in Rio de Janeiro, Niterói, São Gonçalo and municipalities of Lowlands; removal of shanty towns from the banks of rivers and areas of risk, improvements to the water supply in the region of the Baixada Fluminense, São Gonçalo, Niterói and Itaboraí; installation of sewage systems, including programs to clean up Guanabara and Sepetiba Bays; construction of housing in Rio de Janeiro and Baixada Fluminense, constructions to shore up slopes and prevent flooding in Lowlands.

. Investment value: US$ 1.8 billion.

. Implementation timetable: operation projected to start in November 2008.

. Description of the opportunity: procurement.

. Status: procurement process under preparation.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Angra 3

. Segment: Infrastructure – electricity generation.

. Location: in the municipality of Angra dos Reis at the Almirante Álvaro Alberto Nuclear Centre (CNAAA), which already houses the nuclear power stations Angra 1 (600 MW) and Angra 2 (1350 MW).

. Participants: Eletronuclear.

. Project description: implementation of the nuclear power station Angra 3, which will have a gross capacity of 1,350 MW, capable of generating 10.9 million Mwh per year, equal to one-third of the energy consumed by Rio de Janeiro state. The power station will have a useful life of 40 years and will raise the reliability of the system in the South, because in conjunction with the existing power stations Angra 1 and Angra 2 it will meet over 80% of Rio de Janeiro state’s electricity needs.

. Investment value: US$ 2.274 billion.

. Implementation timetable: construction work to start in 2008 and end in 2014.

. Description of the opportunity: participation in the procurement to provide engineering work, services and products.

. Status: the EIA/RIMA has been submitted to IBAMA (the Brazilian environmental agency), the construction site has been prepared and the application for financing has been made.

The construction of ANGRA 3 will increase the reliability of the electricity system by adding gross power of 1,350MW. The project also uses an important Brazilian energy source, uranium, an abundant nuclear fuel in Brazil (6th largest reserve in the world). The decision to build ANGRA 3 will consolidate the national technology associated with the processes of transformation nuclear fuel and strengthening national industry, which will acquire complete nuclear technology. The price is currently considered competitive, with estimated tariffs of US$ 66.3 per Mwh.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Simplício Hydroelectric Plant

. Segment: Infrastructure (electricity generation).

. Project description: the Simplício hydroelectric power station will have an installed power capacity of 333.7 MW and will supply energy to the whole of Brazil. The project will generate some 2,000 jobs in the construction industry.

. Participants: FURNAS Centrais Elétricas S.A.

. Investment value: US$ 455 million.

. Location: the venture will be built in the area below Rio Paraíba do Sul, 150 km from the city of Rio de Janeiro, between the towns of Três Rios and Sapucaia.

. Implementation timetable: construction work has started and the first stage of diverting the river is expected to have been completed by the end of 2007. In April 2008 the concreting of the powerhouse should begin. The power station is projected to start operating in 2011.

. Description of the opportunity: it will be necessary to hire electric and civil construction machinery, equipment and materials throughout the process. The provision of equipment to build hydroelectric power stations is usually agreed with suppliers through contracts.

. Status: construction work is in progress.

The hydroelectric power station Simplicio will generate some 190 MW on average and the power station’s reservoir, which includes part of the UHE Anta reservoir, will occupy just 15.83 km2. This results in power/flooded area of over 10 MW/km2, which helps mitigate the environmental impact on the affected areas. This ratio is only boasted by the most modern power stations like the two country venture Itaipu.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Description of the Investments and Opportunities – Tourism Sector

The tourism sector has an extensive value-chain, as shown in the figure below, and investment therein has a huge positive impact on the economy. The Rio business community has elected tourism as the key segment for the Rio economy in the Rio de Janeiro Development Map, produced by the FIRJAN System in August 2006.

The business community hopes that by 2015 Rio de Janeiro will receive the same number of tourists as New York does annually. The following investments are part of the process of making this wish come true.

Reserva do Peró

. Segment: Tourism.

. Location: Cabo Frio – Eastern Rio de Janeiro.

. Participants: Peró Empreendimentos Imobiliários Ltda, Agenco Engenharia and Lakpar Emp., Marketing e Part. Ltda.

. Project description: the Reserva do Peró is one of the largest realty ventures in Rio de Janeiro state, and will be built in an area occupying approximately 4.6 million square meters.

Located entirely in an environmentally protected area (APA), the venture will contain a hotel complex, including Club Med, with 383 rooms, and Starwood Resort Golf and Beach, with 200 suites. The venture will also have bungalows, parks and residential communities, some 15 restaurants and several convention centers.

. Investment value: US$ 284.4 million.

. Potential market: Brazilian and foreign tourists and the growing demand for realty in Eastern Rio de Janeiro driven by the investments to be made in the area of Comperj.

. Implementation timetable: construction work will commence in 2008 and the venture is projected to start operating in 2010.

. Description of the opportunity: countless opportunities will be available in the civil construction and decorations sector during the construction phase. Once operational, opportunities will be found in trade and services to meet the demands of tourists and inhabitants.

. Status: preliminary license has already been obtained. The participants are currently awaiting an installation license to start the construction work.

The Reserva do Peró will be installed in a Natural Reserve the size of Copacabana. For purposes of comparison, the beach at Reserva do Peró is 5.2 km long and is longer than the world-famous Copacabana beach, which in conjunction with Leme beach is 4 km long.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Fazenda São Bento da Lagoa

. Segment: Tourism.

. Location: Maricá – Eastern Rio.

. Participants: Spanish and Portuguese investor group.

. Project description: three resorts will be erected containing up to 500 rooms, a business centre, a residential community of houses and apartment blocks, the golf course and a fishing village in an area occupying some 2.2 million square meters. A marina will be built at Maricá lagoon, which can hold 1000 boats, the only marina this size between the city of Rio de Janeiro and Vitória.

. Investment value: US$ 3.8 billion.

. Potential market: Brazilian and foreign tourists and the growing demand for realty in Eastern Rio de Janeiro driven by the investments to be made in the area of Comperj and the oil sector.

. Implementation timetable: Initially projected to start in 2008 and end in 2010, the timetable is currently undefined due to problems in the environmental licensing process.

. Description of the opportunity: countless opportunities will be available in the civil construction and interior decor sector during the construction phase. Once operational, opportunities will be found in trade and services to meet the demands of tourists and inhabitants.

. Status: the group of investors have already bought the land. However, the usable area has been significantly reduced because the recently approved Management Plan has imposed serious constraints on the use of the projected Maricá environmental area, where the investment is located. The change is threatening the investment, which the investors are now re-evaluating.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Superclubs Breezes

. Segment: Tourism.

. Location: Búzios – Eastern Rio.

. Participants: Wrobel and SuperClubs.

. Investment value: US$ 56.9 million.

. Project description: Construction of a resort with 329 units, including bungalows and double apartments, at Tucuns beach in Búzios. Interested parties may buy the units.

. Implementation timetable: operation scheduled to start in 2008. However, problems in obtaining the environmental license could delay the start of operations.

. Description of the opportunity: countless opportunities will be available in the civil construction and interior decor sectors during the construction phase. Once operational, opportunities will be found in trade and services to meet the demands of tourists and inhabitants.

. Status: construction work in progress, however the venture is facing problems involving environmental issues.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Description of the Investments and Opportunities – Others Investiments

The other sectors of the Rio economy will also receive major investment in the coming years, which will generate substantial business opportunities. These will involve the construction of a large port with a huge land area capable of housing steelworks, thermoelectric power stations and other industries, the construction of industrial parks with infrastructure, for both traditional sectors like foodstuffs and rubber, and sectors with a global presence such as biofuels. In the pages below we have compiled these and other investments that will have a major impact on the Rio de Janeiro economy and will generate business opportunities and attract new companies to the state.

The Açu Port Complex

. Segment: Logistics Infrastructure (Ports).

. Location: São João da Barra – Northern Rio.

. Participants: LLX Logística S.A. (LLX).

. Project description: the Açu Port Complex is a project of MMX Minas-Rio involving the construction of a port terminal in São João da Barra, a pelletization plant, offshore piers accessed by a canal 21 meters deep with the capacity to dock large ships and exclusive docking areas for iron ore, solid and liquid bulk, containers, general cargo and steel products. It will also have docking areas to moor vessels supporting oil extraction in the region. The Complex has a 6,000 hectare land area projected to house a steelworks, a thermoelectric power station, up to 4 ore pelletization plants, and areas for storing liquid bulk and processing oil.

The Açu Complex is an integral part of an even larger MMX project known as Sistema Minas-Rio. This also involves the construction of an iron ore extraction plant in the municipality of Alvorada, in Minas Gerais state, and an ore pipeline to transport iron ore pulp to the Açu port terminal. The production capacity of the processing plants has been estimated at 7.6 million tons/year. Commencing at the iron ore processing plant in Minas Gerais, the ore pipeline will be 525 km in length and in 2009 is expected to be able to transport

26.5 million tons of iron ore slurry. Sistema Minas-Rio is MMX’s largest venture and will provide an effi cient export corridor in the Central and Western / Southeastern regions, having a major impact on Rio de Janeiro’s economic growth.

In 2011 LLX will expand its port activities initiating the operation of additional piers to move other types of cargo (non-ore). The Açu Port will have the capacity to move 11.5 million tons of coal, keeping up with the demand of metallurgy plants in the area and of a thermoelectric plant that will be included in the port complex. The port will also have a terminal for liquids that will primarily be dedicated to moving ethanol, petroleum derivatives and liquefied natural gas (LNG) at a rate of 4 million cubic meters per year.

Two docks for offshore logistics will be added to the complex and will have a capacity to moor approximately 12 hundred ships and move 90 thousand tons of cargo per year, in addition to a storage area for drilling fluids.

The complex will contain a 6.9 thousand hectares area to accommodate different economic activities. By force of a municipal law the Açu Complex attained an Industrial District status, which will allow the establishment and development of industries including metallurgy plants, thermoelectric plants, gasification plants, automobile industry, sheet metal mechanic industries, refineries, storage and logistics, among others.

. Potential market: Sistema MMX Minas-Rio estimates it will produce up to 26.6 million tons of iron ore per year, 19 million tons of which will be pellet feed for export and 7.6 million tons will be used in the production of 7 million tons of iron ore pellets, processed at the port’s pelletization plant.

. Investment value: the first phase of MMX Minas-Rio consists of the construction of a pelletization plant and the port terminal. This phase will require an investment of US$ 2.3 billion, to be financed through company funding and loans from financial institutions.

. Implementation timetable: the System will start operating in the second half of 2009, producing 8 million tons a year, rising to 20 million tons in 2010 and 26 million tons in 2011.

. Description of the opportunities: during the construction stage, the provision of engineering services and heavy construction work, and the provision of a range of machinery and equipment. Also during the construction stage, the large workforce will require the installation of trade and services around the venture and in the city. During the construction stage demands for accommodation in the region will also rise, which will provide major opportunities for the civil construction sector to develop.

Petrobras may also use Açu Port to bring in oil extracted from the Bacia de Campos. Its proximity to the Bacia de Campos will also help attract various Petrobras service providers to areas near the Port. The huge land area, together with the provision of energy, raw materials and logistics advantages, will make it possible to set up industrial plants from a range of sectors including the automobile and steel sectors, among others.

. Status: licenses have been obtained. Construction work started in September 2007. The first stage (landscaping) is scheduled to end at the start of 2008.

The projected ore pipeline has been designed with a length of 525 km, running from Minas Gerais to Açu Port in Rio de Janeiro. It will be the longest such pipeline in the world. The Complex will be able to receive cape size ships (capacity equal to or greater than 80,000 tons).

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Atar do Brasil Defensivos Agrícolas Ltda.

. Segment: Chemical – Agrochemical Products.

. Location: Resende –Southern Rio de Janeiro.

. Participants: Atanor do Brasil.

. Project description: expansion of the factory in Resende to launch a new product.

. Investment value: US$ 47.4 million.

. Implementation timetable: construction work will start mid-2009 and end in 2010, whereupon the company will start operating.

. Description of the opportunity: engineering services, provision of machinery, equipment, services and consumables for company operations, in line with the segment’s productive chain.

. Status: the project is being produced.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Porto do Açu Thermo-Electric Plant

. Segment: Infrastructure (electricity generation).

. Location: São João da Barra – Northern Rio.

. Participants: MPX Mineração e Energia S.A and the production quota-holders for the Porto do Açu plant.

. Project description: the Porto do Açu Thermo-Electric Plant is a MPX Mineração e Energia project, situated in the north of the state of Rio de Janeiro, targeting mainly the Southeast electricity sub-market. The project is located in the hinterland of the Portuário do Açu complex in São João da Barra.

The plant’s installed capacity will reach 1,400 MW, made up of two 700 MW coal-fired power-generating units. To minimize the environmental impact, the plant will use environmentally sustainable technology as well as installing treatment systems for the various effl uents – gas, liquid, solid and oil. The mechanical cooling tower will use water from the aquifer and from the Sistema Minas-Rio mineral pipeline owned by MMX Mineração e Metálicos.

The supply of mineral coal will be imported, using the full logistics capability of LLX Logística S.A. This coal will be unloaded at a nearby offshore pier and carried by conveyor belt to the plant. The 345 kV connection with the National Grid will be via the Campos Substation, which belongs to FURNAS Centrais Elétricas, using a 35km transmission line which is also to be built.

. Potential market: the power generated by the Porto do Açu plant will be put up for sale in the electrical energy spot market (“Ambiente de Contratação Livre”), for those users who today make up 30% of Brazil’s electrical energy market.

. Investment value: the first phase of the Porto do Açu plant, which consists of building installed capacity of 1,400 MW, will require investments in the order of US$ 2.5 billion, to be financed by own capital and by credit lines with financial institutions.

. Implementation timetable: the Porto do Açu plant will begin to operate with one 700MW unit in 2H12, reaching 1,400 MW with the start-up of a second 700MW unit at the beginning of 2013. In the second phase, from 2015 onwards, 4,000MW will be added to total output, provided by 1,000MW modules.

. Description of the opportunities: during the construction phase – supplies of engineering and heavy construction services, as well as a variety of machinery and equipment.

The sale of the Porto do Açu plant’s power will be carried out on an integrated basis, managing the demand for electricity from the mill’s quota-holders, thus guaranteeing a full power supply for production purposes.

This project will also make electrical power available for those quota-holders located in the vast hinterland of the Açu Port complex, which, along with raw-materials and logistics advantages, will open up possibilities for the installation of a variety of industry sectors, including automobile and steel among others.

. Status: project in development stage. Environmental license forecast for 2008.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Rio de Janeiro Refrescos (Coca-Cola)

. Segment: Beverages.

. Location: Municipality of Rio de Janeiro.

. Participants: Rio de Janeiro Refrescos.

. Project description: Rio de Janeiro Refrescos manufactures Coca-Cola in Rio de Janeiro. It is investing to modernize and expand its facilities, equipment, market assets, logistics structure and the building infrastructure of the plant in the municipality of Rio de Janeiro, and technological capabilities to manufacture new product lines, such as flavored water. The factory’s productive capacity will rise by 25%, from 711 million liters/year to 885 million liters/year. Its area will also be expanded by 62 thousand square meters. The civil construction work will generate 150 direct and 300 indirect jobs, and expanding the factory will create 193 new direct and 247 indirect jobs.

. Investment value: US$ 106.2 million.

. Potential market: domestic market already established, with the distribution of other Coca-Cola products.

. Implementation timetable: the construction work will be concluded in the first half of 2010.

. Description of the opportunity: provision of machinery, equipment and services.

. Status: in progress – construction work started in August 2006.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Special Business Zone (ZEN) – Rio das Ostras

. Segment: Infrastructure.

. Location: Rio das Ostras – Eastern Rio de Janeiro.

. Participants: The Rio das Ostras Municipal Government.

. Project description: the Special Business Zone (ZEN) is the project of the Rio das Ostras Municipal Government. It aims to attract productive investment to the municipality by building an industrial community which can house 80 companies.

The local infrastructure includes asphalt roads and supply networks of natural gas, water, electricity, telecommunications, rainwater drainage, collection and treatment of sewage and industrial effl uent and treatment and controlled disposal of industrial waste.

. Investment value: US$ 30.8 million.

. Potential market: meeting the demand for oil and gas related services, due to its proximity to the Bacia de Campos.

. Implementation timetable: it is estimated that in the next 2 years the ZEN will create 4,000 direct jobs and will receive private investment of around US$50 million.

. Description of the opportunity: concession of the land usage rights for the term of 15 years to industrial and commercial establishments, which may be renewed for an equal term.

. Status: the construction work has been concluded. Six companies are now in full operation and 35 are being set up. The other companies will be set up in the next two years. Around 80% of the companies that have been awarded the concession are related to the provision of technical services and support for oil and natural gas research and production operations.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Special Business Zone (ZEN) – Carapebus

. Segment: Infrastructure.

. Location: Carapebus – Northern Rio de Janeiro.

. Participants: The Carapebus Municipal Government.

. Project description: this project involves an industrial community located on the intersection of BR 101 (one of the most important Brazilian highways, as it connects the North of Brazil to the South) and RJ 182 (a state highway).

. Investment value: US$ 1 million, considering only the infrastructure investments to be made by the government. The number of companies that the Carapebus ZEN will house is still under analysis.

. Potential market: companies from various economic segments.

. Implementation timetable: January to December 2008.

. Description of the opportunity: Companies setting up in the ZEN will qualify for tax incentives. The municipal government will lend the area to the company for a term of 15 years, which may be renewed for an equal term.

Enterprises setting up in the region will have access to important logistics facilities for shipping out production. Apart from being located on the intersection of BR 101 and RJ 182, as mentioned earlier, the Carapebus ZEN is 75 km from the Campos dos Goytacazes airport, which is currently a Customs Terminal. The industrial community is also 300 km from the port of Vitória and 250 km from the port of Rio, and is also close to the Açu Complex.

. Status: awaiting the preliminary license.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

MRS Logística

. Segment: Transportation / Logistics Infrastructure (Railways).

. Location: the entire railway network of MRS in Rio de Janeiro, especially in the following municipalities: Barra do Piraí, Barra Mansa, Itaguaí, Japeri, Rio de Janeiro and Volta Redonda.

. Participants: MRS Logística.

. Project description: the investment chiefly involves expanding the tracks (expansion and improvement of patios), maintaining infrastructure of the permanent tracks, various improvements to workshops and improvement of its facilities throughout the network.

. Investment value: US$ 454.2 million.

. Implementation timetable: the investment will be made during 2007, 2008 and 2009.

. Description of the opportunity: provision of services and equipment by segments of the metal and mechanical industries.

. Status: construction work has commenced.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Elcana Agroenergética

. Segment: Agrobusiness.

. Location: Campos dos Goytacazes – Northern Rio de Janeiro.

. Participants: Elcana Agroenergética.

. Project description: installation of the Elcana Plant. In the first stage, 600 hectares of primary nursery will be used with nine varieties of sugarcane in order to select the cane best suited to the region. During this stage 100 jobs will be created for planting the shoots and a further 60 jobs during the harvest. In the second stage, the selected shoots will be replanted in an area occupying 4,000 hectares, where they will be harvested when the Plant commences its distillation operations. By the end of the final implementation stage, the group intends to be producing 1 million tons of sugarcane/year. The entire structure of the nurseries and crops will be totally irrigated. Average production in the five-year period has been estimated at 75 tons of sugarcane per hectare.

. Investment value: US$ 85.3 million.

. Potential market: domestic and international biofuels market.

. Implementation timetable: the first crop will be processed in March 2008 for producing ethanol in the plant’s distillery.

. Description of the opportunity: provision of machinery, equipment and services during the construction stage and operations.

. Status: first stage has started: the planting of sugarcane.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Companhia Siderúrgica Nacional (CSN)

. Segment: Non-metallic minerals – cement.

. Location: Volta Redonda – Southern Rio de Janeiro.

. Participants: CSN.

. Project description: implementation of a cement factory with a capacity to mill 2.5 million tons per year of CP3 and CP2E cement. A total of 200 direct and indirect jobs will be created.

. Investment value: US$ 113 million.

. Potential market: Rio-São Paulo axis, with a small portion (5%) intended for Minas Gerais. In the future, the company could start exporting part of its produce.

. Implementation timetable: the operation is expected to start in June 2008.

. Description of the opportunity: provision of services and equipment by segments of the metal, mechanical and electrical industries.

. Status: civil construction work started in May 2007. The electromechanical assembly is projected to start in November 2007.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Alcana Agroenergética

. Segment: Agrobusiness.

. Location: Campos dos Goytacazes – Northern Rio de Janeiro.

. Participants: The Alcana Agroenergética and Aloés Groups.

. Project description: investment to implement an ethanol plant and sugarcane plantation.

. Investment value: US$ 142.2 million

. Potential market: biofuels market for motorcars.

. Implementation timetable: the sugarcane plantation started in 2005 and will continue until 2009. The industrial project will be implemented in the second half of 2009 and concluded in 2011, when the plant will start operating.

. Description of the opportunity: provision of machinery, equipment and services during the construction stage and operations.

. Status: planting of sugarcane; construction work has not started.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

ABISA – Agroindústria Bom Jesus do Itabapoana S.A.

. Segment: Agrobusiness.

. Location: Bom Jesus do Itabapoana – Northwestern Rio de Janeiro.

. Participants: Benco Alta Tecnologia e Construções Ltda.

. Project description: implementation of an ethanol plant projected to produce 160 million liters of ethanol per harvest and to generate revenue of US$ 56.9 million in its first year. Abisa will create roughly 1200 direct and 4800 indirect jobs in the sugarcane fields and local transport and trade.

. Investment value: US$ 118.5 million.

. Potential market: Abisa will direct 20% to 30% of its produce to the domestic market. The enterprise will come into operation with the advanced sales to the international market (Japan and China).

. Implementation timetable: construction work is projected to start in 2008 and the plant will start operating at the end of 2008.

. Description of the opportunity: the opportunity involves the provision of machinery, equipment and services during the construction and operation of the plant.

. Status: awaiting the preliminary license.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Michelin

. Segment: Rubber.

. Location: Municipality of Rio de Janeiro.

. Participants: Michelin.

. Project description: expansion of the factory operating in the municipality of Rio de Janeiro, which will produce radial tires and air inner tubes for trucks and buses. The investment will raise the company’s current capacity from 1.3 million to 1.6 million units.

. Investment value: US$ 98 million.

. Potential market: roughly 80% of the industrial tires to be made at this plant and at the new plant will be directed to the international market, in particular the USA.

. Implementation timetable: the factory will start operating at the start of 2008.

. Description of the opportunity: provision of machinery, equipment and services.

. Status: construction work is in progress.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Michelin

. Segment: Rubber.

. Location: Municipality of Rio de Janeiro.

. Participants: Michelin.

. Project description: implementation of a factory producing tires for landscaping and mining, with a capacity to produce 40,000 tons a year on land occupying 1.3 million square meters.

. Investment value: US$ 200 million.

. Potential market: the agricultural and iron ore sector, with excellent prospects of growth in Brazil. However, roughly 80% of the industrial tires to be made at the plant (as well as at the other Rio plant) will be directed to the international market, in particular the USA.

. Implementation timetable: the factory will start operating in 2008.

. Description of the opportunity: provision of machinery, equipment and services.

. Status: construction work is in progress.

For further details about this opportunity: riodejaneiro@multifocoassessoria.com.br

Attachment 1 – Methodology

The Decision Rio study aims to map out the investments planned for the State of Rio de Janeiro for a set period of three years. The study involves the collection, verification and analysis of data.

Data-collection is carried out using Brazil’s most important newspapers and magazines and also through discussions with the companies themselves, in order to identify investments planned for the State of Rio. Verification is the process of confirming with private-sector and state investors, city-halls and State and Federal Governments all the data collected. These different groups are thus responsible for the accuracy of the data. In the next stage the data is compiled and analyzed. Finally, the largest investments are set out in detailed form in the study, so as to be useful to both public and private entities.

Attachment 2 – Regions and Municipalities in Rio de Janeiro State

Lowlands – Area I (9)

Itaguaí, Japeri, Mangaratiba, Mesquita, Nilópolis, Nova Iguaçu, Paracambi, Queimados and Seropédica.

Lowlands – Area II (7)

Belford Roxo, Duque de Caxias, Guapimirim, Magé, Miguel Pereira, Paty do Alferes and São João de Meriti.

Central Northern Rio de Janeiro (12)

Bom Jardim, Cachoeiras de Macacu, Cantagalo, Carmo, Cordeiro, Duas Barras, Macuco, Nova Friburgo, Santa Maria Madalena, São Sebastião do Alto, Sumidouro, Teresópolis and Trajano de Morais.

Eastern Rio de Janeiro (17)

Araruama, Armação de Búzios, Arraial do Cabo, Cabo Frio, Casimiro de Abreu, Iguaba Grande, Itaboraí, Maricá, Niterói, Rio Bonito, Rio das Ostras, Saquarema, São Gonçalo, São Pedro da Aldeia, Silva Jardim and Tanguá.

Northwestern Rio de Janeiro (13)

Aperibé, Bom Jesus do Itabapoana, Cambuci, Italva, Itaocara, Itaperuna, Laje do Muriaé, Miracema, Natividade, Porciúncula, Santo Antônio de Pádua, São José de Ubá and Varre-Sai.

Northern Rio de Janeiro (9)

Campos dos Goytacazes, Carapebus, Cardoso Moreira, Conceição de Macabu, Quissamã, Macaé, São Fidélis, São Francisco de Itabapoana and São João da Barra.

Highlands (7)

Areal, Comendador Levy Gasparian, Paraíba do Sul, Petrópolis, São José do Vale do Rio Preto, Sapucaia and Três Rios.

Southern Rio de Janeiro (17)

Angra dos Reis, Barra do Piraí, Barra Mansa, Engenheiro Paulo de Frontin, Itatiaia, Mendes, Parati, Pinheiral, Piraí, Porto Real, Quatis, Resende, Rio Claro, Rio das Flores, Valença, Vassouras and Volta Redonda.

Rio de Janeiro State Capital (1)

Municipality of Rio de Janeiro.