On Wednesday (30), the investment fund Shelf 119 Multiestratégia bought Companhia Docas do Espírito Santo (Codesa) and will be responsible for managing the port administrator for the next 35 years.
This is the first privatization carried out in the country by a dock company, which are the port authorities, linked to the federal government, responsible for managing the ports existing in each state.
The winning fund offered a grant in the amount of R$ 106 million for the concession, in an auction held on Wednesday morning at B3’s headquarters in São Paulo.
The Beira Mar Consortium also participated in the event. The presence of two interested parties ensured competition for the block, with a bid-by-bid dispute over the microphones.
The initial bid for the grant had a symbolic value of BRL 1, and could be increased by at least BRL 5 million for each new bid. The winner would be the one offering the highest value for the grant.
The auction of the Espírito Santo company has been considered a kind of pilot for others scheduled by the government, notably the privatization of Santos Port Authority, the state administrator that controls the Port of Santos, in São Paulo, one of the largest in Latin America.
Codesa is responsible for managing the ports of Vitória and Barra do Riacho. The winner will be responsible for them in a 35-year concession contract, renewable for a further five.
Investments are estimated at R$334.8 million in existing infrastructure, in addition to approximately R$1 billion in maintenance costs throughout the concession period.
The contract also provides for the possibility of exploring new areas around the infrastructure already built.
According to the National Bank for Economic and Social Development (BNDES), which helped in the preparation of the project, more than half of the area granted – 522 thousand square meters of a total of 860 thousand – is still unexplored, and can be used for new developments. installations.
The new administrator will also have to pay the Union fixed annual contributions, in the amount of R$ 24.75 million, and annual variable contributions equivalent to 7.5% of its revenue. The costs also involve an annual inspection fee to the National Waterway Transport Agency (Antaq) of R$3.188 million.
The Port of Vitória, located in the capital of Espírito Santo, has a consolidated cargo portfolio and a favorable position for road and rail access.
According to the BNDES, it has the potential to double the movement of cargo throughout the concession, from the current 7 million tons handled per year to 14 million tons.
The Port of Barra do Riacho is specialized in the shipment of pulp and has a current movement of 8 million tons per year. The port has two berths dedicated to the movement of liquid bulk and land access by rail and road.
*With information from Agência Brasil and Estadão Conteúdo
Source: CNN Brasil
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