Recently-signed Codesa privatization to increase throughput by 65%

The Brazilian Minister of Infrastructure, Marcelo Sampaio, signed the purchase and sale agreement of Companhia Docas do Espírito Santo (Codesa), the port authority responsible for the Port of Vitoria, bringing an end to its privatization process.

During the ceremony, the minister highlighted that this is the first privatization finalized by the ministry and said that the numbers only tend to increase.

“This is the first privatization in the ministry’s history. We believe in the private sector’s power. This new Port of Vitoria will be a model of efficiency for Brazil and the rest of the world. Today is a momentous day, ” he stated.

With privatization, cargo throughput is set to increase by 65%, reaching 14 million tonnes per year.

See below the container throughput at the Port of Vitoria from January 2021 to July 2022. The data is from DataLiner.

Container Throughput at the Port of Vitoria | Jan 2021 – Jul 2022 | TEUs

Source: DataLiner (click here to request a demo)

Codesa was auctioned off for BRL 106 million in March. The winner of the tender, which will manage the ports of Vitoria and Barra do Riacho for 35 years, was FIP Shelf 119 – Multiestratégia. Disputed by two companies, the event had four dozen bids and reached a grant of R$ 106 million.

With the privatization, Codesa ceases to be a public company after the payment of R$ 326 million for its shares. The new company becomes the concession-holder of the two ports after the green light of the National Waterway Transportation Agency (Antaq).

Source: Folha Vitória

To read the full original article, please go to: https://www.folhavitoria.com.br/economia/noticia/09/2022/privatizacao-da-codesa-e-assinada-e-previsao-e-aumentar-numero-de-cargas-movimentadas-em-65

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