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Brazil raises $620m in huge concession auction

(FILES) In this file photo taken on March 31, 2021, Brazilian President Jair Bolsonaro delivers a statement to members of the media on the resumption of emergency aid payments to the population most affected by the COVID-19 pandemic in the country, at Planalto palace in Brasilia. Brazil wrapped up a massive auction on April 9, 2021.

SAO PAULO: Brazil wrapped up a massive auction Friday for concessions to operate 22 airports, a rail line and five ports with a total take of $620 million and planned investments of $1.75 billion in all.

The three-day auction was seen as a risky bet by some analysts, coming as Brazil reels from a new surge of Covid-19 that is weighing down Latin America’s biggest economy.

But President Jair Bolsonaro’s government mostly managed to attract strong bids, seeking to show Brazil…

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