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Financial News: BRAZIL: Audit Court Bars Extension Of Concessions In

BRAZIL: Audit Court Bars Extension Of Concessions In The Ports Decree

06/29/2018 - 12:45:00 (RTTNews)

(RTTNews) - The Brazilian Court of Audit (TCU) has banned the extension of concessions in contracts signed on the basis of the port's decree, signed by President Michel Temer in 2017, which allowed the renewal of concessions for up to 70 years. The TCU issued the opinion and forwarded it to the Attorney General's Office (PGR).

The decree is the subject of investigations by the Federal Police (PF) and the Public Prosecutor's Office, which try to verify whether President Temer received a bribe to benefit the company Rodrimar with the signing of the decree.

In a note, the Ministry of Transport pointed out that the TCU did not modify the entire decree and that it recognized the possibility of implementing private investments in common areas of the port, outside the area of the lease, and the possibility of replacing areas, bounded by the limits of previous analysis.

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