Filipino Multinational Acquires Former Inhaúma Shipyard and Eyes Logistics Expansion at Rio de Janeiro Port

Rio de Janeiro’s port zone may see a major logistics boost as ICTSI — a Filipino multinational in the port operations sector valued at US$15 billion — officially takes full control of the former Inhaúma Shipyard in the Caju neighborhood. O Globo’s Capital column reported the news.

The site, which remained operational until 2016, was severely impacted by the decline of Brazil’s shipbuilding sector following the Lava Jato (Car Wash) investigation and has been inactive ever since. At the height of Brazil’s pre-salt oil boom, the shipyard employed up to 5,000 workers and projected contracts worth US$1.7 billion with Petrobras.

ICTSI, controlled by billionaire Enrique Razon Jr., had already acquired a 47% stake in the Inhaúma Real Estate Fund, which owns the 32-hectare site with 141,000 square meters of built area. The company has now acquired the remaining 53%, previously held by Camila Appel and João Antônio Lopes Filho, both of whom are linked to Banco Fator, the fund’s manager.

Although the financial details of the transaction were not disclosed, the fund’s net assets are valued at around R$822 million, with the shipyard being its only asset. Since November, ICTSI has been leasing the facility.

Located near the Port of Rio, where ICTSI has operated a container terminal concession since 2019, the site will now be redeveloped to expand the region’s logistics capacity. One of the options under consideration is the establishment of a Private Use Terminal (TUP), which is currently in the evaluation phase.

This development not only reactivates a strategic asset that has been dormant for nearly a decade but also highlights the growing international interest in Rio de Janeiro’s logistics infrastructure at a time when the revitalization of the port zone is gaining new momentum.

Source: Diário do Rio

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