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NYK eyes investment in Brazilian base

NYK eyes investment in Brazilian base

Rio de Janeiro: Japanese car and container carrier NYK Line has declared an interest in investing in Brazilian ports and the USD$300M deepwater port project - called Superporto - currently being developed just outside of the port of Tubarao is the likely destination of Japanese cash, according to the president of Codesa, the port authority for the state of Espirito Santo.

For Angelo Baptista - who already has responsibility for the ports of Vitoria (general cargo and containers) and Tubarao (coal and iron ore) - has this week revealed that NYK representatives will visit the Codesa ports and conduct a "Superporto site visit" between March 14 and 20.

Baptista also revealed that first contact with the Japanese had been made during a visit by Codesa and other state of Espirito Santo businessmen at trade shows in China and Japan last November.

Baptista added; "This deepwater project for containers and cars has attracted the interest of a number of leading players, as well as NYK Line, but they are the frontrunners."

The port of Vitoria is cramped and restricted by a narrow river channel, yet the state of Espirito Santo is one of the leading entry points for car imports and the export and import of car parts, with Fiat based in Belo Horizonte, in the neighbouring land-locked state of Minas Gerais.

Brazilian construction firms Carmargo Correa and Odebrecht are also known to be interested in the Superporto project. A joint venture between one of these construction companies and NYK Line is the most likely way forward, a reliable source in Vitoria told SAO.  [26/01/10]