New concessions remain stalled in Brazil

The TCU originally imposed 19 conditions on the Ports Secretariat, which accepted 15, although has appealed four others, including asking for the definition of a ceiling rate for leases.

However, the Secretariat has signed two early extension agreements for existing concessionaires. ADM has agreed to invest $1.11m in a warehouse operation it has at Tubarão, whose concession will henceforth expire in August 2037. However, new conditions mean it will have to guarantee minimum traffic of three million tons annually as of 2017, an increase of 250% compared with its previous contract, although the facility is thought to be capable of handling up to eight million tons.

Earlier, the Secretariat also agreed an extension to the concession held by AGEO Terminals and Warehouses. This concessionaire will invest $18.54m by 2017 on expanding capacity. In return, its concession has been extended to February 2041, with $187m of total investment pledged.
A further 20 requests for extensions have been received, which will involve around $10bn in new investments.