The Federal Government of Brazil has awarded a concession contract for an irrigation PPP project to the BRLT 201 Multistrategy Investment Fund, the only bidder for the project at auction. The winning bid for the concession was BRL82.7 million (US$16.57 million) with a premium of 0.57%.

The Baixio de Irecê Irrigation Project, located in Middle São Francisco Region, Brazil, covers an area of almost 105 thousand hectares out of which 48 thousand hectares are irrigable. The concessionaire will be responsible for the implementation, operation and maintenance of stages 3 to 9 of the project, comprising an irrigable area of 31,423 hectares.