Brazil signs two port concessions

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Brazil signs two port concessions

Brazil's Special Ports Ministry (SEP), through its minister Edinho Araujo, has signed two ports concessions in the states of Rio de Janeiro and São Paulo, 

Under this two concession the ports will receive a total investment of about R$5 billion (US$1,327 million),  R$2.5 billion (US$663.6 million) for each.

On one hand, the minister has signed a 25-year extension to the concession agreement held by Companhia Siderurgica Nacional (CSN) for a coal terminal in the port of  Itaguai. Under the agreement the company will develop improvements to double the terminal capacity from 30 million tonnes per year to up to 60 million tonnes per year.

The port of Itaguaí, which was opened in 1982,  is located in the Brazilian state of Rio de Janeiro. One of its main trading goods is alumina.

On the other hand, the minister has signed a concession agreement with Vetria Mineração company to develop a new private use terminal (TUP) "Terminal Uso Privado" for the port of Santos. The project involves the development of a new terminal on a 1.9 m² of land which will handle approximately 25 tonnes of iron ore per year.

This concession will be managed by Vetria Mineração company, part of the Triunfo group.

The port of Santos is located in the city of Santos, state of São Paulo, Brazil. It possesses a wide variety of cargo handling terminals: solid and liquid bulk, containers, and general loads. It isBrazil's leading port in container traffic.

Araujo stated:

"The signing of contracts this week for these two projects proves that there is still strong demand in the Brazilian port sector and that it can contribute significantly to the recovery of the Brazilian economy."

"It is the role of SEP to facilitate procedures in the port sector and ensure private investment in the modernization and expansion of terminals. That's what we're doing right now, finalizing the anticipated renewals of leases and procurement of new leases. The two developments this week will help modernise our Brazilian ports, ensuring greater competitiveness."

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