The 'Ports and Airports Ministry' announced on Monday that Brazil has set a'minimum concession fee' of '500 million reais (92.96 million dollars) for the massive Tecon 10-container terminal auction at the port of 'Santos', which is expected to happen in the second half of March.

The project requires an investment of?6.4 billion reais.

Ports & Airports Minister Silvio?Costa Filho stated last?month that more than 10 'potential bidders' had expressed an interest. These included the Philippines-based ICTSI and Brazilian meatpacker JBS, as well as logistics firm JSL.

According to an estimate released by the Ministry in December, this move will increase the port's capacity from?6 million to?9 millions containers. $1 = 5.3784 Reais (Reporting and writing by Leticia Fucichima, Editing by Gabriel Araujo).

(source: Reuters)