A significant portion of the investment, around $840m, will be directed towards the BTP container terminal in the Port of Santos which TIL operates in partnership with APM Terminals, a subsidiary of the AP Moller Maersk.
The availability of these funds is contingent upon the federal government’s approval for the early renewal of the lease, which is set to expire in 2027 but could be extended for another 20 years. While discussions with authorities have already occurred, a definitive decision has not yet been reached.
TIL plans to invest approximately $630 million in the container terminal of Navigantes. These funds will be utilised for pier reconstruction, dredging to deepen the draught and other complementary infrastructure works.
“We are expanding our presence in Brazil and actively seeking opportunities to enhance our capacity. There is a latent demand in Brazil, and if port capacity in the country were to double, the demand would follow. Therefore, we remain committed to making investments as opportunities arise,” said Ammar Kanaan, President of TIL, was quoted as saying.
TIL aims to invest up to $3.56 billion in Brazil, depending on potential business opportunities in the coming years. This includes potential partnerships, acquisitions, and new concessions.
In addition to the terminals in Santos and Navegantes, TIL also operates a terminal in Rio de Janeiro and controls the cabotage company Log-in Logistica, which operates a terminal in the port of Vila Velha.
Established in 2000, TIL operates 74 container terminals globally, in Europe, North America, South America, Africa, and Asia. These terminals play a crucial role in facilitating the operations of MSC, its parent company and primary customer, as well as other shipping companies that rely on these facilities for container loading, unloading, and transhipment between ships and land transport modes
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited.
Add Seatrade Maritime News to your Google News feed.  |
