Rio de Janeiro Airport

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In November 2013, Consorcio Aeroportos do Futuro, a joint-venture of the Brazilian construction company Odebrecht (60%), the Singarope company Changi (40%), was awarded in a competitive bidding process the contract to expand and operate the airport located at the city of Rio de Janeiro (capital of the state of Rio de Janeiro). A special purpose company named Concessionaria Aeroporto Internacional do Rio de Janeiro S.A. was created to manage the project, 51% owned by Consorcio Aeroportos do Futuro and 49% owned by the state-owned company Infraero. The 25-year contract was signed with the regulatory agency in April 2014, and the private sponsors took over the operations of the facilities in May 2014. Besides Consorcio Aeroportos do Futuro, five other companies took part in the contest (information on these companies was not available). The bidding criteria set by the regulatory agency ANAC was the highest payment for the concession rights. Consorcio AeroBrasil presented the highest offer, a total value of US$ 8083 million (BRL 19 billion), 293% above the minimum set by the regulatory agency. The payments were set to be made in annual installments over the life of the contract. The total investment in the project was estimated at US$ 2425 million (BRL 5.7 billion). In August 2014, the state-owned bank BNDES granted a US$ 468 million (BRL 1.1 billion) loan to the project.