Brazil to Privatize Six Terminals
- Business & Finance
The government of Brazil has revealed its plans to launch the second procedure for privatization of six port areas in an effort to attract investment and development funds, the country’s Secretariat of Ports (SEP) said.
The privatization is expected to start on March 31, 2016, when the lease tenders for six north terminals would be opened.
Brazil estimated that around USD 443 million will be collected under the privatization plans.
Of this, some USD 366 million would be designated for investment in new terminal facilities, while USD 51 million of leasing fees would be paid to state port authorities over the 25-year period.
The areas in question are three grain terminals at the port of Outeiro in Belem, one terminal at Vila do Conde, one grain and one fertilizer terminal at Santarém.
Additionally, Brazil has received the permission to put up 20 more areas on tender for privatization as soon as the country defines these areas.
These tenders, estimated at a total worth of some USD 500 billion, are expected to be opened by the end of the year and would include the terminal in Santos.
World Maritime News Staff