By Brazil Stock Guide – Brazil’s Federal Court of Accounts (TCU) will review on Dec. 18 the viability studies for the Tecon Santos 10 container megaterminal at the Port of Santos, according to reporting from Agência iNFRA. The project is one of the country’s most valuable port infrastructure initiatives, with planned investments of 5.6 billion reais over 25 years.
The review will center on whether the auction should follow the phased and restricted format proposed by regulator ANTAQ or the single-stage, open model recommended by the TCU’s internal audit unit AudPortoFerrovia and the Public Prosecutor’s Office at the court. As noted by Agência iNFRA, ministers may request additional time, raising the prospect of a procedural delay.
ANTAQ’s proposal blocks incumbent container-terminal operators at Santos from participating in the first phase. They could only join a second round if no bidders appear initially — and would then be required to divest existing assets within the port complex should they win. AudPortoFerrovia, however, argues that all companies should be allowed to compete upfront, with mandatory divestment imposed only if an incumbent prevails.
Brazil’s Economic Monitoring Secretariat said the divestment window defined by ANTAQ is too short, while ICTSI (ICTS), which operates terminals in Suape and Rio de Janeiro and plans to bid, warned the requirement could create legal uncertainties.
The Tecon 10 terminal — which includes 621,000 square meters of area, an estimated capacity of 3.5 million TEUs a year, a 1,505-meter quay and up to 17 meters of draft — is expected to anchor long-term expansion on the port’s right bank. After the Dec. 18 meeting, the TCU has three remaining sessions before its year-end recess, and the government still aims to publish the auction notice this year, with the bidding slated for 2026.