December 20, 2016 / 12:20 PM / 9 months ago

Rio airport operator may pay overdue charges in installments -paper

SAO PAULO, Dec 20 (Reuters) - Brazil’s government plans to allow stakeholders in Rio de Janeiro’s international airport to pay overdue operating charges in monthly installments as Congress considers legislation on infrastructure concessions, newspaper O Globo reported on Tuesday.

Concession company Riogaleão has delayed paying the government almost 1 billion reais ($297.22 million) in concession rights since May, after one of its partners, Odebrecht SA, was cited in a massive corruption investigation .

Riogaleão could pay 240 million reais ($71.33 million) in 12 monthly installments while Congress decides whether to approve a temporary decree issued by President Michel Temer sketching out new rules for infrastructure concessions, the newspaper said.

The decree gave the government the power to strip concession rights from investors that fail to meet the minimum terms of their contracts. Congress has up to 90 days to rule on the decree.

Riogaleão and Brazilian regulator ANAC did not immediately respond to requests for comment.

$1 = 3.3645 reais Reporting by Silvio Cascione; Editing by Lisa Von Ahn

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