The date for the privatization of Codesa has already been set

The date for the bidding of the Companhia Docas do Espírito Santo (Codesa), the first port privatization in the history of Brazil, has already been set. With the approval of the bidding notice by the National Bank for Economic and Social Development (BNDES), the process, which provides for the transfer of the company’s control and the concession of the ports of Vitória and Barra do Riacho, will be held on March 25, at B3, the São Paulo Stock Exchange.

The contract, which is valid for 35 years and can be extended for another five years, is expected to generate R$ 334.8 million in private investments, in addition to approximately R$ 1 billion in operating expenses. Over the course of the lease, more than 15,000 direct, indirect, and income-effect jobs are expected to be created.

Codesa is a federal public company associated with the National Secretariat of Ports and Waterway Transportation of the Ministry of Infrastructure. The company is responsible for managing and commercially exploring the organized ports of Vitória and Barra do Riacho. The model for its privatization was prepared by the BNDES, through its Project Factory.

“The privatization will bring much more flexibility in terms of management, which implies easily applying innovations for current tenants and attracting t investments more quickly”, said the Minister of Infrastructure, Tarcísio Gomes de Freitas.

The privatization of Codesa will be the first done under the frameworks of the 2013 Ports Law. The project aims to attract private partners with the technical, operational, and financial capacity to improve port management agility, facilitating investment realization and the development of new businesses at ports.

The ANTAQ-approved concession contract also stipulates that the concessionaire must adhere to service level indicators in order to maintain the quality of operations in the port complex.

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