Advertisement
Sea Port Business
Copyright © 2012-2013 Sea Port Business All right reserved. Designed By Sam Web Solutions
Home About Us Publication Magazine News Subscription Advertise Events Contact Us
Brazil's Itaqui Port to Undergo $3 Bln Expansion Over 20 Years
Latest Issue ::::::::::::::::::::::::
::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::
Brazil's Itaqui Port to Undergo $3 Bln Expansion Over 20 Years
The company administering Brazil's Itaqui port said it plans to invest 6.3 billion reais ($3.13 billion) in expansion over 20 years to increase cargo-moving capacity ten-fold as Brazil faces criticism that its ports are inadequate.
Itaqui, strategically located on Brazil's northeast coast and closer to Europe and the United States than the country's southern ports, moved 15.7 million tonnes of cargo in 2012.
By 2030, it hopes to handle 150 million tonnes per year, said Luiz Carlos Fossati, president of the Maranhense Port Administration Co (Emap), in an interview.
The company plans to invest 1.4 billion reais in Itaqui by 2016, he said.
Brazil's National Transport Confederation has said the country's ports are among the slowest and most costly in the world, due partly to lack of investment.
President Dilma Rousseff announced late last year a $26 billion plan to modernize the country's public ports. Brazil, an agricultural superpower, has had trouble making timely export deliveries of this season's record soybean crop.
Source: Reuters
New Media Communication Pvt. Ltd
703, Shivai Plaza, Marol Co-op Estate,
Behind Time Square Building, Marol,Andheri (E),
Mumbai - 400059
Tel: +91-22-40148064-66
Fax: +91-22-29255279
Email: seaports@newmediacomm.com
www.newmediacomm.com
KNOWLEDGE SERIES
