Port of Itapoá raises BRL 750 million for expansion project

The Port of Itapoá expansion project is ready to receive BRL 750 million in funds. The idea is to increase the terminal’s handling capacity, which is currently 1.2 million TEUs per year, to 1.6 million TEUs.

Itapoá’s expansion project will require a total investment of R$ 850 million and will start in 2022, with a duration of up to two years, according to the company’s president, Cássio Schreiner.

“The occupation of the terminal in 2021 was, on average, around 75%. In the first quarter of the year, we reached peaks above 80%. This motivated us to expand our facilities because – with no expansion –  we would be possibly be facing a bottleneck. Considering the growth forecast for the next year, we would reach the limit capacity”, says the executive. The idea is to start enlarging the terminal’s capacity as of the second half of 2022.

The expansion project consists of purchasing new cranes, which will bolster the handling capacity at the pier. On top of that, a new storage house will be built in the terminal.

The financing was made through incentive debentures, which will be valid for a 15-year term and have an impact on the Brazilian Consumer Price Index (IPCA) of 6.29%. The operation was coordinated by BTG Pactual and with the participation of XP enterprises.

The port of Itapoá is privately-owned and operates since 2011 in Santa Catarina. The most relevant shareholders are the Battistella group, BRZ investment group, and Maersk. Initially, the venture had a handling capacity of 500 thousand TEU per year. In 2013, though, as port operations started to near the limit capacity, the company approved an expansion plan that could eventually increase capacity to 2 million TEU a year.

The first phase of the Itapoá expansion project was concluded in 2018 when the terminal reached its current capacity. The expansion work scheduled to begin in 2022 represents the second one.

There is still a third phase planned, which will increase the capacity to 2 million TEU per year. All required assessments have been approved and licensed by the right regulatory bodies, according to Schreiner. “If see that there is enough demand, we can anticipate the last expansion round though we expect it will only be necessary by 2025”, says the executive.

Source:

Valor Econômico

To read the full original article visit: https://valor.globo.com/empresas/noticia/2021/12/29/porto-de-itapoa-capta-r-750-mi-para-expansao.ghtml

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