A JV of the Changi Airport Group and Odebrecht SA will acquire Rio de Janeiro’s Galeao airport for $8.3 billion. The minimum required bid for the airport was $2.06 billion. The JV will own the airport for 25 years. The contract is likely to be signed in March 2014. The first phase of the airport expansion work involves the construction of 26 airbridges and parking spaces by April 2016. By the end of the concession period, the airport will be able to handle over 60 million passengers per year. The country is hosting the World Cup Soccer in 2014 and the Olympic Games in 2016.
