Brazil's government set a minimum concession fee of BRL500 million ($92.96 million) for the Santos port's massive Tecon 10 container terminal auction, expected to take place in the second half of March, the Ports and Airports Ministry said on Monday.
The project will require an investment of BRL6.4 billion. More than 10 potential bidders have expressed interest, including Philippines-based ICTSI, Brazilian meatpacker JBS, and logistics firm JSL, Ports and Airports Minister Silvio Costa Filho said last month.
The move will allow the port's annual capacity to be increased to nine million containers, according to an estimate from the ministry released in December.
Earlier in December, the country's Federal Audit Court upheld a two‑stage auction model that barred incumbent container terminal operators from the first round of bidding to encourage new entrants and guard against market concentration. The decision was criticised by major carriers such as Maersk but welcomed by potential newcomers.
(Reporting by Leticia Fucuchima; Writing by Isabel Teles; Editing by Gabriel Araujo)
