NEWS
Brazilian Port Bill Approved
Fri May 17, 2013 07:24 AM CDT

SAO PAULO (Dow Jones) -- Brazil's Congress finally approved Thursday a controversial bill that is expected to bring more private investment to the country's outdated seaports and help solve one of its main infrastructure bottlenecks.

Congress had faced a midnight-Thursday deadline to authorize the temporary decree issued by President Dilma Rousseff in December, after days of bitter wrangling. The administration wants to overahaul the nation's ports, which are currently choke points for exports, especially soybeans and other agricultural commodities.

President Rousseff has 15 days to sign the bill into law.

In December, the government unveiled a program requiring 54.4 billion ...

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