NEWS
Brazil Senate Approves New Port Law
Alastair Stewart South America Correspondent
Fri May 17, 2013 07:53 AM CDT

SAO PAULO, Brazil (DTN) -- Brazil's Senate approved legislation aimed at modernizing ports.

The government-sponsored bill, designed to increase port efficiency and attract investment, garnered a 53-7 majority in the upper house and, following the formality of presidential approval, will pass into law.

One hurdle must still be overcome, however, as opposition senators have asked the Supreme Court to suspend the vote on the basis that it was rushed and proper procedure was not followed.

President Dilma Rousseff hopes the new rules will trigger $25 billion in investments, which are badly needed to ease bottlenecks currently impeding grain exports.

The ...

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