Brazil’s Odebrecht, Changi Airport Group win Brazil airport concessions

SAO PAULO - Brazil opened two of its busiest airports to private investors on Friday, awarding concessions in Rio de Janeiro and Belo Horizonte in a push to overhaul the country's crowded terminals.

Brazilian conglomerate Odebrecht and Singapore's Changi Airport Group won rights to expand and operate Rio's Galeão airport for 19.018 billion reais (S$10.4 billion), nearly four times a minimum bid of 4.8 billion reais. The concession also requires about 5.7 billion reais of additional investments over the next 25 years.

Brazil's CCR SA and the operators of airports in Zurich and Munich, Flughafen Zuerich AG and Flughafen Munchen, won the concession to run Confins airport outside of Belo Horizonte for 1.82 billion reais, well above a minimum bid of 1.1 billion reais. That concession requires investments of about 3.5 billion reais over the next 30 years.