Vitoria delivers first concession

State-owned port authority Companhias Docas do Espirito Santo (Codesa, located in the state of Espirito Santo, north of Rio de Janeiro) went private in the first half of 2022 when Quadra Capital investment fund paid Reais106million (US$22.6 million) for a 35-year concession.

TechnipFMC, which has wide interests in Brazil, has signed a five-and-a-half-year contract to operate a facility in Vitoria to support its offshore activities.

Quadra says it will invest Reais850m over its concession period, covering infrastructure, equipment and various expansion projects, and predicts throughput will jump from seven million to 14 million tons per annum.

“Our contract with TechnipFMC is a historical contract as it is the first private contract made within the scope of a private port authority,” said Ilson Hulle, President, Vitoria Port Authority. “It’s a small step but we hope it will be the first of many, especially in the growing oil and gas industries.”