Construction of Porto Central inflates land in Presidente Kennedy

Amid the growth of the real estate market on the hitherto forgotten coast of Presidente Kennedy, with the announcement of the construction of Porto Central in the municipality, the values of land around the project took a significant leap.

The observed rise in prices is a response to the euphoria observed in the sector driven by the increased land demand, inflating prices, and, consequently, the value of the square meter built.

But, in the case of Presidente Kennedy, the construction of Porto Central, which was originally scheduled to begin in 2020 and then again at the end of 2021, has yet to start.

Because the port will primarily serve large oil and gas businesses, the endeavor will likely draw investments in the energy sector. The project also includes grain, general cargo, container ports, and export solid bulk.

In the letter requesting authorization for the construction and operation of the terminal for private use, the management of Porto Central highlighted that the project, worth around R$ 3 billion, will constitute an inducer of national and local economic growth, enhancing trade flows abroad, reducing logistics costs and increasing the country’s competitiveness.

Construction to start in September

Since it was announced, the construction of Porto Central in Presidente Kennedy has already suffered a series of delays. Several reasons have contributed to this delay, and according to the member of the Group’s Board of Directors, José Maria Vieira Novaes, everything has been normal.

According to José Maria, the group is currently fundraising to make construction possible, which is expected to begin in September. “We will begin when we have the finances for it. The first liquids terminal is expected to begin operations in July 2025,” he says.

About Porto Central

The multipurpose industrial complex under development in Presidente Kennedy will occupy an area of approximately 2,000,000 hectares. The deal provides a 25-meter-deep port capable of receiving large-draft vessels, such as VLCCs and Valemax, with up to 400,000 tons of capacity.

The modular refinery will process 50,000 barrels per day, with the project being implemented in two phases, the first with 30,000 barrels per day and the second with 20,000. The project has an estimated investment of US$ 640 million (US$ 350 million in phase 1 and US$ 290 million in phase 2).

Source: AquiNoticias

To read the full original article, please visit https://www.aquinoticias.com/2022/02/construcao-do-porto-central-inflaciona-terrenos-em-presidente-kennedy/.

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