TCU approves plans for Codesa privatization

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The Ministry of Infrastructure in Brazil has received approval from the Federal Court of Accounts (TCU) for Companhia Docas do Espírito Santo (Codesa) privatization. Codesa is a state-owned port operator company responsible for the operation of Port of Vitória and Barra do Riacho located in Aracruz, North of Espírito Santo.

Under the transaction, the government aims to raise BRL783 million (US$139 million) from 35 years of the concession contract. The ministry plans to launch a bid notice in January 2022. The winner will be selected based on the highest grant value offered to the government.

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