Singapore's Changi seeking new partner for Rio airport | Reuters

BRASILIA Singapore Changi Airport is seeking a potential new partner for its investment in Rio de Janeiro's Galeão international airport, the head of the company running the concession said on Monday.Luiz Rocha told reporters, after meeting with Finance Minister Henrique Meirelles, that Changi was seeking a possible new investor in case its existing partner, a division of Brazilian conglomerate Odebrecht SA, leaves the project.

Reuters October 18, 2016 04:45:06 IST
Singapore's Changi seeking new partner for Rio airport
| Reuters

Singapores Changi seeking new partner for Rio airport
 Reuters

BRASILIA Singapore Changi Airport is seeking a potential new partner for its investment in Rio de Janeiro's Galeão international airport, the head of the company running the concession said on Monday.Luiz Rocha told reporters, after meeting with Finance Minister Henrique Meirelles, that Changi was seeking a possible new investor in case its existing partner, a division of Brazilian conglomerate Odebrecht SA, leaves the project. "Changi has a stake in other airports outside of Singapore and has relationships with top shelf investors. The idea is to bring one of them to Galeão," Rocha told reporters in Brasilia after a meeting with Finance Minister Henrique Meirelles.

Changi partnered with Odebrecht and state airport operator Infraero in 2013 for the rights to expand and operate Galeão. Rocha, chief executive of RIOGaleão, also voiced confidence that state development bank BNDES would disburse a long-term loan to help finance the company.

Newspaper Valor said in August that BNDES has declined credit to Galeão because of charges against Odebrecht in a sweeping corruption probe that has rocked Brazilian politics and businesses over the past two years.

(Reporting by Leonardo Goy; Editing by Daniel Flynn, Bernard Orr)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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