Port of Rotterdam Authority’s shareholders, the Municipality of Rotterdam and the Dutch Ministry of Finance, have approved the port’s participation in the Port of Pecém in Northeast Brazil
The participation involves an investment of some €75M for a 30% stake.
The Port of Rotterdam Authority (HbR) says it will have joint control of strategic decisions and positions at Executive Board, Supervisory Board and management level. HbR and Ceará State are expected to sign the decision next month, and the following months will be used to further finalise the participation.
Allard Castelein, HBR’s CEO, said: ‘Our participation in the Brazilian Port of Pecém is promising for all parties. We have been working as adviser with Pecém for several years. This investment will further intensify the partnership. We will be working with Ceará State to ensure that Pecém expands to become the future logistics and commercial hub of Northeast Brazil."
Pecém is a rapidly-growing port. Throughput has grown by an average of 22% per year over the past 10 years and last year came to 16 Mt. Economic growth (national and international) and related market demand will enable the port to continue to develop towards a throughput of 45 Mt/year by 2030, said HbR.
In addition, Pecém is an attractive proposition because most of the required infrastructure (breakwaters, berths, land, etc) is already available."