By Brazil Stock Guide – Brazil’s land transport regulator expects to move forward with the EF-118 railway concession and the Minas-Rio corridor in the first half of December 2026, with both projects still pending the completion of reviews by the Federal Audit Court, known as TCU.
The two rail projects will follow different structures, according to ANTT Director-General Guilherme Theo Sampaio. EF-118 is expected to proceed under a traditional concession, while the Minas-Rio corridor will be offered through a public call for companies interested in operating the assets.
EF-118 Investment
The EF-118 project, also known as the Southeast Railway Ring, would connect Rio de Janeiro and Espírito Santo through 575 kilometers of rail infrastructure.
The planned railway is expected to require R$7.7 billion in investment. ANTT intends to structure the project as a conventional concession, subject to the completion of the TCU review.
Minas-Rio Corridor
The Minas-Rio corridor comprises sections of the Ferrovia Centro-Atlântica network between Minas Gerais state and the Port of Angra dos Reis in Rio de Janeiro.
Instead of using the traditional concession format, ANTT plans to select an operator through a public call for the use of the existing railway assets.
The process is expected to be Brazil’s first public call involving rail infrastructure. It could become a reference for handling other railway sections returned to the federal government by concessionaires.
Reuse of Rail Assets
The proposed model is intended to support the rehabilitation of railway segments that may be surrendered to the government, including assets considered idle or commercially unattractive.
The Minas-Rio process would provide an alternative mechanism for returning those sections to operation. Its structure could later be applied to other rail assets no longer covered by existing concession agreements.
TCU Review
ANTT’s December timetable remains conditional on the completion of the TCU assessments. The regulator is targeting the first half of the month for both projects, despite their different operating and contractual structures.












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