Port of Antwerp International invests $10 million in Porto do Açu
Shipping - Port of Antwerp, through its subsidiary Port of Antwerp International (PAI), will invest $10 million in Porto do Açu, a privately owned port complex in São João da Barra in Brazil.
Jul 24, 2017: Port of Antwerp, through its subsidiary Port of Antwerp International (PAI), will invest $10 million in Porto do Açu, a privately owned port complex in São João da Barra in Brazil.
Brazil is the largest economy of Latin America and the 7th largest in the world and a very important maritime trading partner for the port of Antwerp. More than 6.4 million tonnes of freight are exchanged on an annual basis between the largest country from Latin America and the port of Antwerp. This places Brazil on the sixth place as a trading partner. This investment confirms the strong long term commitment of the Port of Antwerp towards the Brazilian market.
Port of Açu
Port of Açu is located in the industrial heart of Brazil. It is an industrial deep sea port for the handling of oil, gas, dry bulk, containers and general cargo. The port also serves as a support centre for the Brazilian offshore sector due to its location to the Campos basin. The port connects international markets to the Brazilian market of more than 200 million people. Port of Açu is ideally positioned to serve the European, US and Asian market.
The construction of the port complex started in 2007 and the first operations started in 2014. Port of Açu has a surface of 130 km² of which 40 km² is natural reserve. The port has potential to operate 17 km of dock with a maximum depth of 25m. It has the capacity to receive very large vessels such as Capesizes and VLCCs.
Port of Antwerp
PAI, a subsidiary of the Antwerp Port Authority, was set up to participate and invest in overseas ports and port-related projects in strategic regions such as Brazil, as part of the port's foreland policy. PAI chose for Porto do Açu, amongst others, because of its strategic location near oil and gas fields and the proximity to Minas Gerais, the gateway to Brazil. Furthermore, the project in Açu is an example of a successful private and already operational greenfield port, developed by a reliable partner with a strong focus on sustainability. Finally, it is an unique opportunity for PAI to further co-develop the port, while enhancing the position of Antwerp in Latin America as a preferential port for the continent.
For this investment PAI will receive 1,176 per cent of the share capital. PAI has the option to invest additionally after 18 months at its sole discretion. Port of Antwerp International will also appoint one member of the board of directors, four managers of Porto do Açu and will provide a considerable amount of consultancy services.
The Port of Açu Industrial Complex is a port developed and controlled by the Brazilian Bovespa listed company Prumo Logística, which has implemented one of the most modern concepts of port-industry in its design. Prumo Logística is controlled by US Based EIG, one of the leading providers of institutional capital to the global energy industry. EIG has invested more than $23.5 billion in more than 315 portfolio investments in 36 countries.