Brazil Approves USD 27 Billion Port Package
Brazil’s Congress last week passed legislation that authorizes US$27 billion in investment to improve Brazil’s aging and congested ports. The government said it expects the nation’s exports to quadruple by 2030; its ports are operating at capacity.
Under the plan, ports will be open to private investment and new construction of privately-owned ports would be permitted. Until now, all ports were operated by the state government.
Contracts will be awarded based on the highest rate of efficiency and lowest price per ton of cargo. Labor unions objected to a section of the bill that would allow port operators to hire non-union workers. Several strikes were staged at Santos and other ports prior to the bill’s passage. The most recent strike ended last Thursday (May 16), hours before Congress passed the bill.