Newly sworn-in Brazilian President Jair Bolsonaro has announced on Twitter his intention to privatise operations of the South American nation’s airports and seaports.

In his Twitter post, Bolsonaro said that privatising the 12 airports — including those in Rio de Janiero and Sao Paolo — and four seaports would result in $1.85 billion in private investments.

Bolsonaro, the first far-right president elected in Brazil since the end of the country’s military dictatorship in 1985, promised during his campaign to reduce state-run enterprises in favour of the private sector.

He claimed that Brazil was burdened by “hundreds of bureaucratic governing bodies” and vowed to address the issue.

The Centre for Aviation (CAPA) reports that the Bolosonaro administration will turn over operations of 44 airports to private concessionaires, bundled into six regional blocks. The transition is expected to be completed by 2022.

The moves could spell the end for Infraero, Brazil’s current national airport authority.