São Paulo state to invest US$2.9bn in Tietê river project

São Paulo state is planning an investment of 15.3bn reais (US$2.9bn) to clean up the Tietê river through 2026.

The investment, to be made by state-run water firm Sabesp, will expand once the company's privatization process is concluded, the state government said in a statement.

The government intends to privatize the firm this year through the sale of its controlling stake via a public share offering, keeping a minority participation.

The government said the funds to be invested in the river project are set to reach 23.5bn reais in 2029.

"The financial injections will be used for flood control measures and waste removal from river beds. There will also be an increase in leisure and integration actions, with the implementation of parks and reforestation of vegetation on the Tietê river banks," the government said.

Crossing the entire state, the Tietê river has an extension of more than 1.100km. In the stretch that passes through the metropolitan region, the river has suffered from high levels of pollution for decades with different administrations promising to clean up the river without much success.