The Agência Nacional de Aviação Civil (ANAC) made public on 1 December 2016 a notice that it will auction separately operating concessions for airports in Fortaleza, Salvador, Porto Alegre, and Florianópolis (O Globo, Valor). The auction will take place on 16 March 2017 on the São Paulo Stock Exchange (BM&FBovespa). The Federal Government expects to bring in at least US$838 million from the transactions, with total investment from future operators estimated to be around US$1.9 billion. Infraero, which currently manages the airports, will not bid. Concession terms will be between 25 and 30 years with five-year extensions available, and future operators' plans must include investment in upgrading and expanding current terminals (Diário Catarinense). The sale, which represents a combined 11.6 percent of passengers in Brazil, is part of the Federal Government's plan to privatize its airports over the next several years and broader plan to attract private investment to public infrastructure upgrades.