Maersk subsidiary APM Terminals will invest €962m ($1bn) to develop Brazilian operations by 2026. It plans to spend €296m of the overall investment, which includes construction of a new terminal in Suape, on phase one development for the project. The remaining €666m will cover four other terminals and storage depots operable by the company. Brasil Terminal Portuário (BTP) in Santos will be paid a large proportion of the sum, €285m, and APM plans to fivefold increase the capacity of its inland container depots in south-east and north-east Brazil.
APM is negotiating with the Brazilian government to extend the concession contract for the refurbishment of BTP, which will finish in 2027. If extended, the terminal’s peak capacity will be doubled to three million twenty-foot equivalent units per annum. APM Terminals CEO Keith Svendsen said the company was also considering a new container terminal, STS 10, adjacent to BTP, but the project’s future was unclear because of the country’s changing political situation.