Port of Rotterdam Authority invest $85.5m in Brazil’s Port of Pecém
The Port of Rotterdam Authority CEO Allard Castelein and the Governor of the Brazilian state of Ceará, Camilo Santana, have signed an investment agreement on the participation of the Port of Rotterdam Authority’s in the development of the port of Pecém. The Port of Rotterdam Authority will invest $85.5m in Pecém’s port-industrial complex, constituting a 30% share in this enterprise. In addition, the Port of Rotterdam Authority will gain a joint say in strategic and investment decisions as well as representation in the Brazilian port’s Executive Board, Supervisory Board and management. The partners expect to conclude the definite participation agreement before the end of 2018.
Port of Rotterdam Authority aims to participate in the Port of Pecém
The participation involves an investment of some 75 million euros and, in addition to holding 30% of the shares, the Port of Rotterdam Authority will have joint control of strategic decisions and positions at Executive Board, Supervisory Board and management level. The Port of Rotterdam Authority 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, CEO Port of Rotterdam Authority is delighted with the decision in principle: ‘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.’
APM Terminals Pecém reports record volumes
APM Terminals Pecém reported a 19% annual increase in container handling volumes as the gateway port to northeast Brazil. APM Terminals Pecém, which is the container operator at the Port of Pecém which is managed by the state-owned company CIPP (former Cearaportos), handled 130,008 moves (213,951 TEUs – twenty-foot equivalent units) in 2017 a new volume record.Upload News