A consortium led by Brazilian conglomerate Odebrecht on Friday was awarded a 25-year concession to operate and maintain Rio de Janeiro's international airport, the country's second busiest.

The Aeroportos do Futuro consortium offered just over 19 billion reais (some $8.6 billion) for the concession, nearly four times the minimum bid price required by the government.

The winning consortium, which also included Singapore airport operator Changi Airport Group, also agreed to make investments totaling 3.5 billion reais (some $1.6 billion) to expand and modernize the airport, popularly known as Galeao.

Also Friday, a consortium made up of the operators of the Munich and Zurich airports and Brazilian holding company CCR was awarded a 30-year concession to operate and maintain Belo Horizonte's Confins international airport, the country's fifth-busiest.

The Aerobrasil consortium offered 1.8 billion reais (some $827.3 million) for the concession, an amount 66 percent higher than the minimum required bid.

Under the concession rules, Brazilian state-run airport operator Infraero will retain a 49 percent stake in the airports.

Rio de Janeiro will host the 2016 Summer Olympics, while Rio and Belo Horizonte will both be host cities for next year's soccer World Cup. EFE