The Brazilian government has authorized state-owned Correios, Latin America’s largest postal company, to raise 3.8 billion reais (about 760 million dollars) to modernize its technological infrastructure and implement the ecological transition of its 23,000-vehicle fleet, the government portal Agencia Gov.
The authorization is unprecedented, and the funds raised abroad will be used to modernize Correios, with preferential rates and the option to repay the debt within five years, the news portal, which is part of Empresa Brasil de Comunicação (EBC), said in a statement.
The postal company is also a leader in logistics in Brazil and its privatization process was cancelled when President Luiz Inácio Lula da Silva took office on 1 January 2023.
“We are taking an essential step to promote the modernization of the company. We will implement a series of measures to promote operational efficiency and environmental sustainability,” said Correios president Fabiano Silva dos Santos.
The authorization to raise resources was granted by the Ministry of Planning and Budget in the framework of the energy transition launched by the Lula da Silva government and that is why the fleet will have to be renewed with technologies with a higher degree of sustainability.
Dos Santos said that this point is associated with the importance the government attaches to hosting COP30, the UN climate change conference to be held in the Amazonian city of Belém, capital of the state of Pará, in November 2025.
“In addition, part of the funds will be used to renew the company’s fleet, with the introduction of low-carbon vehicles. The measure will help reduce Correios’ carbon footprint and improve air quality in the regions where it operates,” the state-owned company added.
Correios will also have the opportunity to invest heavily in technology, upgrading its systems and industrial parks to make the necessary adaptations in a more agile way to provide the services currently demanded by society.
