SAO PAULO, May 1 — Brazil raked in a larger-than-expected US$4 billion (RM16.38 billion) yesterday auctioning the operating rights to the Rio de Janeiro water and sewer system, a win for President Jair Bolsonaro and his privatisation agenda. The far-right leader attended the auction in Sao Paulo,...
Saturday, 01 May 2021 07:19 AM MYT
Bolsonaro, who has struggled to implement the privatisation plans he campaigned on in 2018, called the auction “historic.” Rio’s troubled public water company, Cedae, has faced criticism in recent years for the city’s sometimes cloudy, smelly and earthy-tasting water.In all, Cedae serves 13 million people, including the greater metropolitan area.
The third went to consortium Igua, in which Canadian pension fund CPP Investments holds a 45-per cent stake. Brazilian state development bank BNDES has pledged to finance up to 55 per cent of those investments.Politically chargedLawmakers who voted in favour argued the heavily indebted southeastern state could not auction Cedae until it finalises a new aid package from the federal government.But interim governor Claudio Castro, a Bolsonaro ally, issued a last-minute decree ordering the auction to go ahead.
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