January 19, 2018 / 1:27 AM / 3 months ago

Sao Paulo metro line concession auctions to go ahead Friday

SAO PAULO, Jan 18 (Reuters) - The auction of concessions to operate a subway and a monorail line in Sao Paulo will go ahead on Friday after a court lifted an injunction that suspended the process last year, the state metropolitan transport department said on Thursday.

The auction of the 20-year private concessions to run Line 5 of the city’s subway system and the Line 17 monorail on the south side of the city will be held at Sao Paulo’s B3 stock exchange.

The city’s metro company CMSP expects the winners to invest 3 billion reais over the 20-year period and the highest bidders for the right to operates the lines will be granted the concessions, the department said in a statement. (Reporting by Anthony Boadle; Editing by Sandra Maler)

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