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Published: 13 August 2009
China to invest in Brazilian ports
Following a visit to China by Brazil’s President Lula, the South American country is being targeted to receive billions of dollars of investment for its port sector
Beijing has already agreed to lend Petrobras, Brazil’s state-controlled oil giant, US$12B so it can charter in and underwrite the construction of 100-plus offshore vessels.
Most of the US$4.5B now promised by Beijing seems to be heading for Santos, including US$2B towards the US$3B Barnabé Bagres project that will more than double the port’s capacity to 220 Mtpa and 8-10M TEU, by 2015.
The flood-damaged port of Itajaí could also benefit from an injection of Asian cash (for a new, third container terminal), but the bid by Pedro Brito, the Brazilian ports minister, to persuade Chinese investors to place some of their money in northern and north-eastern Brazilian ports such as Suape, Pecem and Itaquí fell on deaf ears. “The Chinese don’t seem so keen to invest outside of the south of Brazil,” said Brito, hinting that Sepetiba could also receive funding.
High profile local port figures accompanying Lula to China included Paulo Simões, general manager Brazilian Projects for APM Terminals, Gustavo Pecly, president of Libra Terminais, Henry Robinson of Brasil Terminal Portuaria (MSC), Agnes Barbeito, president of Termares and Tecondi in Santos), Sergio Aquino, president of Santos Port Council, along with executives from Eike Batista’s LLX, Camargo Correa, Andrade Gutierrez and DTA Engenharia. Port consultancy.
- VKS Partex Engenheiros, recently presented a study in São Paulo stating that to keep up with demand the Port of Santos would need 18 more container berths by the year 2020, costing around US$4.2B.