APM Terminals Announces $1 Billion Investment in Brazil

APM Terminals Announces $1 Billion Investment in Brazil
Share it now

APM Terminals has announced a $1bn investment in its Brazilian ports and inland depots through 2026. Of the funds, $296m will be put towards Phase 1 of a new terminal in Suape, with total costs estimated at $483m. The remaining $666m will be invested in the company’s four other terminals and inland depots in the north-east and south-east of Brazil, and around $285m will be spent on renovating the Brasil Terminal Portuário in Santos. APM Terminals, which is owned by Maersk, said the 92% capacity factor of BTP makes it a top priority for renovation and its negotiations with the Brazilian government to extend the terminal’s contract for another 20 years.

APM is also in talks with Terminal Investment Limited (TIL), a subsidiary of MSC Mediterranean Shipping Company, to develop a container terminal known as STS 10. However, the project’s future depends on its reassessment by Brazil’s new government, while concerns have been raised that Maersk and MSC already dominate the market. Speaking on the matter, APM’s CEO Keith Svendsen brushed aside these fears as “unfounded”, and called for investment to ensure the deepening of Santos port’s access channel to accommodate new and larger ships.

Tags: APM Terminals,Brazil,Maersk


Source

Share it now