Posted on August 7, 2017
The Port of Antwerp, through its subsidiary Port of Antwerp International (PAI), is set to invest $10m in the Port of Açu in the state of Rio de Janeiro in Brazil.
The industrial deep-sea port was chosen by PAI, among other reasons, because of its strategic location near oil and gas fields and its proximity to Minas Gerais, the gateway to Brazil.
PAI will receive 1,176% of the share capital in the investment, and also has the opportunity to invest additionally after 18 months at its sole discretion.
It will also appoint one member of the board of directors and four managers of the Port of Açu, as well as providing consultancy services.
The port, which handles oil, gas, dry bulk, containers and general cargo, also serves as a support centre for the Brazilian offshore sector because of its proximity to the Campos Basin.
It has a surface of 130 km², 40 km² of which is natural reserve, and also has the potential to operate 17 kilometres of dock with a maximum depth of 25 metres.
It also has the capacity to receive very large vessels including capesizes and VLCCs.
Construction of the port complex began in 2007 and the first operations commenced in 2014.
PAI, a subsidiary of the Antwerp Port Authority, was created in order to participate and invest in overseas ports and port-related projects in strategic regions, as part of the port’s foreland policy.
Over 6.4 million tonnes of freight are exchanged between Brazil and the Port of Antwerp each year.
Source: portstrategy
