Brazil Is Counting on US$ 20 Billion in Private Capital to Modernize Ports

    Paranaguá port in Brazil

    Paranaguá port in Brazil The Brazilian government hopes the projects it is developing for improvement of Brazil’s main ports over the next five years should attract private sector investment of up to US$ 20 billion over the next 5 years, according to the special secretary for Ports (SEP) of the Presidency of the Republic, minister Pedro Brito.

    He said that the works of the National Program for Dredging, which should allow for the docking of large vessels and the reduction of bureaucracy after implementation, in April, of the Paperless Port Program, should reduce the cost of freight, to be reflected in the prices of imported products and also products for export.

    In coming years some 700 million reais (US$ 400 million) should be invested in ports in the seven Brazilian cities to host 2014 World Cup matches and the 2016 Olympics. The objective is to simplify the docking of transatlantic vessels in Rio de Janeiro, Fortaleza, Salvador, Santos, Recife, Natal and Manaus.

    Brito pointed out that this investment is focused on sports events to be promoted in the country and includes logistics for reception of visitors. The new installations are also going to grant agility to cargo transport, generating an impact on the trade balance of Brazil, said the minister.

    Rio de Janeiro should receive 300 million reais (US$ 172 million) of the total 700 million reais to be invested in the seven cities to receive matches.

    The works should start being tendered this year and all should be concluded by 2012. The minister said that there should be a delay in the completion of the works in Rio de Janeiro, as three new piers will be built for the docking of large vessels.

    ABr

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