Brazil’s Ministry of Transport has approved the concession agreement for the wheat terminal at the Port of Rio de Janeiro, which was awarded by the National Waterway Transport Agency (Antaq) in April.

The winning bid of ZAR 5,086,090 was received from the Maravilha Consortium, which had been put together by Bunge and M. Dias Branco. No other bids were received.

The winning consortium estimates that it will have to make investment in infrastructure and equipment in the region of ZAR 409 million.

The concession will run for 25 years.