CODESA sale: companies and state question the privatization model

Scheduled for March or April 2022, the privatization of Companhia Docas do Espírito Santo (CODESA) still raises a series of questions. For the notice to be published and the auction to take place, the federal audit court (TCU) must approve the notice. However, the federal public ministry of accounts and other institutions have made a series of inconsistencies in the privatization process.

The manifestation of the MP is the last step before the process is taken to the plenary. In an opinion sent to TCU last week, prosecutor Júlio Marcelo said he saw a lack of transparency in the process and asked for new public hearings to be held.

This is not the first time that the privatization of the company has been questioned. In October, the TCU claimed to have found errors in the spreadsheets sent to the agency regarding the CODESA privatization process.

An audit team found that after the various modifications carried out in the final version of the economic-financial assessment, the economic value of the contract (grant right) underwent changes of approximately 1/3 of its original value, from R$719.5 million to R$471.6 million. The analysis of the process was even temporarily suspended due to the situation.

The federation of industries of Espírito Santo (FINDES) also forwarded a document to the TCU in which it questions an underestimation of demand in official studies which barely consider the eventual results of allocating the loads in the Center-East logistics corridor and the influence of the railway system in the process of CODESA’s privatization, mainly due to the possibility of an early extension of the Centro-Atlântica Railroad (FCA).

Source: A Gazeta

To read the full original article, visit the link:

https://www.agazeta.com.br/es/economia/venda-da-codesa-empresas-e-ministerio-publico-questionam-modelo-de-privatizacao-1221

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