World Bank’s IFC finances new Brazil container dock

By: | at 08:00 PM | Channel(s): International Trade  Ports & Terminals  

The International Finance Corporation (IFC), the World Bank’s private-sector lender, has arranged nearly $600 million in loans for a new container terminal that will raise capacity at Brazil’s largest port.
The IFC will provide $97 million to Brasil Terminal Portuario S.A. (BTP), a joint venture that will develop and operate the new terminal that is now under construction at Santos port and is expected to start operating by the end of 2012.
The lender has also arranged a further $582 million for the project through its syndication program in conjunction with six commercial banks. The terminal is expected to cost $908 million in total.
BTP is owned by Terminal Investment Limited and APM Terminals, which operate terminals in a number of countries.
Container terminal users in fast-growing Brazil, one of the world’s biggest exporters of agricultural and mineral commodities, say additional capacity is sorely needed. Coffee and sugar exporters struggled to export at harvest time last year when the existing container terminals became congested. (Reuters)

American Journal of Transportation