Ministry of Infrastructure in Brazil has approved the model and conditions to process privatization of state-owned port operator company Companhia Docas do Espírito Santo (Codesa). Currently, Codesa is responsible for the operation of Port of Vitória and Barra do Riacho located in Aracruz, North of Espírito Santo.

The government will hold an auction for Codesa in the fourth quarter of 2021, which is expected to generate BRL1 billion (US$197.20 million). The winner will be responsible for the operation of both ports for a period of 35 years, which can be extended for another five years.

The winner will be decided through bidding of concession fees, the highest bid will be selected.