Brazilian container terminal operator Terminal de Contêineres de Paranaguá (TCP) has signed a deal with the national waterways regulator Antaq which extended TPC’s concession for Paranaguá port, Paraná state for 25 more years.
Under the deal, TPC will invest USD 453 million to expand its infrastructure at the port, Brazilian daily Valor Econômico reported.
According to the reports, the agreement is being forwarded to special ports department SEP, the final step in filing the extension.
The investment is expected to be divided into two stages. The first, from 2016-18, involves around USD 226 million to expand container handling facilities. Once completed, the terminal’s annual freight handling capacity will increase to 2.5mn from 1.5mn TEUs.
The remaining amount assigned for stage two for maintenance and equipment replacement.
[mappress] World Maritime News Staff, October 9, 2014