The Brazilian government on Monday privatized three airports -- including Sao Paulo's Guarulhos, the country's largest and busiest -- at a $14 billion auction here ahead of the 2014 World Cup.
Three different consortiums made up of domestic and foreign operators won concessions to upgrade overloaded terminals at the airports, which are to handle the tens of thousands of tourists expected for the World Cup.
The 20-year concession for the Sao Paulo airport went to the Invepar-CSA consortium comprising three firms -- Invepar, OAS and South Africa's ACSA -- with a bid of more than $9.4 billion.
Aeroportos Brasil -- made up of Triunfo Participacoes, UTC Participacoões and France's Egis -- won the 30-year concession for the terminal at Viracopos airport in Campinas, Sao Paulo state with a $2.27 billion bid.
And the Inframerica Aeroportos consortium made up of Engevix and Argentina's Corporacion America won the 25-year concession for the terminal at Brasilia's President Juscelino Kubitschek airport with an offer of $2.6 billion.
The three airports together account for 30 percent of passenger traffic in Brazil.
Monday's winning bids were three and a half times higher than the minimum required by the National Civil Aviation Agency (ANAC).
One key demand at the auction, held in Sao Paulo's Bovespa stock exchange, was that "the concessionaire of each airport must complete the work for the 2014 World Cup."
Last August, Inframerica also successfully bid to build and operate the Sao Gonçalo d'Amarante airport near the northeastern city of Natal.
There are about 70 public airports in Brazil, and many are in need of upgrades ahead of the World Cup and the 2016 Olympics due to take place in Rio de Janeiro.
Brazil, the world's sixth largest economy, is racing against the clock to build or renovate the 12 arenas that will host the 2014 World Cup, and to complete massive infrastructure projects for the premier sporting event.
The country needs to spend more than $11.4 billion to improve roads, boost security and the country's telecommunications infrastructure, according to a study by the Getulio Vargas foundation and Ernst & Young consultants.
Last year, the Institute for Applied Economic Research (IPEA) said nine of the 13 airport terminals currently being expanded were on track to be completed in time.
It predicted that construction at the other nine airports would only end in 2017.
Over the next four years, the number of passengers is expected to jump by 40 percent, reaching 225.9 million.
Last month, former World Cup winner Romario said in an interview that Brazil would not be "100 percent ready" to host the World Cup.
"I think that (Brazil) won't be 100 percent ready. Of the 12 stadiums (that are to stage World Cup events) maybe 10 will be ready," the retired football star said in his interview with the magazine Istoe.
"As to work on public transportation, none of the cities involved will be able to complete it fully," said Romario, who is now a lawmaker with Brazil's Socialist Party (PSB).
He also warned that the total cost for staging the World Cup could jump from an estimated $44 billion to $55.5 billion.
