Singapore’s Changi, partner buy Rio de Janeiro airport terminal for $8. 3B

GALEAO AIRPORT, RIO DE JANEIRO, BRAZIL, Manila Bulletin

GALEAO AIRPORT IN RIO DE JANEIRO, BRAZIL (Bloomberg) – Passengers wait at dining tables in the lobby area of the Galeao airport terminal in Rio de Janeiro, Brazil, on Friday, Nov. 22, 2013. A unit of Singapore’s Changi Airport Group and Odebrecht SA will obtain Galeao airport in Rio de Janeiro for nearly four times the minimum bid to run Brazil’s second-busiest air center for 25 years.

A unit of Singapore’s Changi Airport Group and Odebrecht SA will acquire Galeao airport terminal in Rio de Janeiro for almost four occasions the minimum bid to run Brazil’s second-busiest air hub for 25 years.

Changi Airports Worldwide and the Brazilian construction and anatomist company offered to pay 19 billion reais ($8. 3 billion) just for Galeao, which will host visitors for your soccer World Cup next year and the 2016 Olympic Games. This even comes close with the minimum required bid of 4. 83 billion reais. The contract is expected to be agreed upon in March, Changi said in an e-mailed statement yesterday.

The airport auction was portion of President Dilma Rousseff’s 212 billion-reais plan to modernize infrastructure and shore up investor confidence as growth in Latin America’s largest economy slows. The government is under pressure to complete the projects as the country prepares to welcome a projected 600, 000 international visitors for the World Cup in June.

“It’s going to be an pregressive process, but this is going in the proper direction for Brazil, ” stated Jefferson Finch, an analyst from political risk consultancy Eurasia Group. “If they can follow this plan three successful highway auctions, it might really be very helpful in turning the particular boat of sentiment away from harmful to more positive. ”

“Those pessimistic about Brazil may have a bitter day today, ” Rousseff said Nov. 22 within a speech in the northeastern city of Fortaleza. The airport auction “didn’t get it wrong. ”

The first stage of the airfield’s expansion will include creating an additional 26 airbridges and parking lots by April 2016, according to Changi’s statement. The airport will be able to handle more than 60 million passengers each year by the end of the concession period, this said.

“The Latina American aviation market presents many growth opportunities, ” Lee Seow Hiang, chief executive officer of Singapore’s Changi Airport Group, said in the declaration. “We must focus immediately over the expansion of the Galeao airport. ”

Singapore’s air transportation system is ranked first for high quality in the World Economic Forum’s latest Global Competitiveness Report, based on a study of more than 13, 000 business frontrunners. Brazil’s system, by contrast, ranks 123rd on the list of 148 countries.


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GALEAO AIRPORT, RIO DE JANEIRO, BRAZIL, Manila Bulletin

GALEAO AIRPORT IN RIO DE JANEIRO, BRAZIL (Bloomberg) – People wait at tables in the lobby area of the Galeao airport in Rio, Brazil, on Friday, Nov. 22, 2013. A unit of Singapore’s Changi Airport Group and Odebrecht SA will acquire Galeao airport terminal in Rio de Janeiro for almost four occasions the minimum bid to run Brazil’s second-busiest air hub for 25 years.

A unit of Singapore’s Changi Airport Group and Odebrecht SA can acquire Galeao airport in Rio for almost four times the minimal bid to run Brazil’s second-busiest surroundings hub for 25 years.

Changi Airports International and the B razil construction and engineering company agreed to pay 19 billion reais ($8. 3 billion) for Galeao, that will host visitors for the soccer World Cup next year and the 2016 Olympic Games. This compares with the minimal required bid of 4. 83 billion reais. The contract is expected to be signed in March, Changi said in an e-mailed declaration yesterday.

The airport terminal auction was part of President Dilma Rousseff’s 212 billion-reais plan to modernize infrastructure and shore up trader confidence as growth in Latina America’s largest economy slows. The federal government is under pressure to complete the tasks as the country prepares to encouraged a projected 600, 000 international visitors for the World Cup within June.

“It’s likely to be an incremental process, but this is going in the right direction just for Brazil, ” said Jefferson Finch, an analyst from political risk consultancy Eurasia Group. “If they could follow this up with three prosperous highway auctions, it could really be very helpful in turning the boat of sentiment away from negative to more positive. ”

“Those pessimistic about Brazil will have a sour day today, ” Rousseff stated Nov. 22 in a speech in the northeastern city of Fortaleza. The airport terminal auction “didn’t go wrong. ”

The first phase of the airfield’s expansion will include building an additional 26 airbridges and parking lots by April 2016, according to Changi’s statement. The airport will be able to handle more than 60 million passengers annually by the end from the concession period, it said.

“The Latin American modern aviation market presents many growth opportunities, ” Lee Seow Hiang, chief executive officer of Singapore’s Changi Airport Group, said in the statement. “We must focus immediately on the expansion from the Galeao airport. ”

Singapore’s air transport system is rated first for quality in the World Economic Forum’s latest Global Competitiveness Report, based on a survey of more than thirteen, 000 business leaders. Brazil’s system, by contrast, ranks 123rd on the list of 148 countries.

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