In meeting with Lula, MSC Group announces R$ 17 billion in investments

The Brazilian Government, in collaboration with Terminal Investment Limited (TIL), one of the world’s largest container terminal operators and a subsidiary of the MSC Group, signed an Amendment on Monday (22) to their lease contract with the Port of Santos, valued at R$ 4 billion (with R$ 2 billion invested and an additional R$ 2 billion allocated per the new agreement). Furthermore, there are projections of investments totaling R$ 3 billion earmarked for deepening the access channel at the Portonave Terminal, along with an additional R$ 10 billion slated for new investments, amounting to a total of R$ 17 billion in forthcoming exploration projects in Brazil.

The signing ceremony was attended by President Luiz Inácio Lula da Silva and Minister of Ports and Airports Silvio Costa Filho, MSC Group President Diego Aponte, TIL Global CEO Ammar Kanaan, Investment Director Patricio Junior, and MSC Shipping Brazil President Elber Justo. They convened to formalize the extension of the port terminal lease contract for an additional 20 years.

Enhancements at Santos encompass the procurement of equipment, yard expansion and enhancement, automation initiatives, gate reorganization, and fender replacement, all slated for completion within 72 months following the signing of the supplementary agreement.

Post-meeting, Minister Silvio Costa Filho underscored Brazil’s economic growth potential and the significance of investments, emphasizing their role in streamlining production flow and fostering job creation and income generation for the populace.

“Brazil is currently exhibiting favorable economic conditions – with controlled inflation, declining interest rates, and positive GDP growth expectations – rendering the country increasingly appealing to the international market. Alongside President Lula, we are bolstering dialogues with international investors to attract a greater influx of investments, thereby catalyzing job creation and income augmentation,” he affirmed.

TIL, a subsidiary of the Swiss shipping conglomerate Mediterranean Shipping Company (MSC), has evolved into one of the globe’s foremost container terminal operators. In Brazil, the company has vested interests in three terminals: Santos, Santa Catarina, and Rio de Janeiro, operating in collaboration and contributing to bolstering the nation’s involvement in global trade while enhancing the business landscape.

TIL CEO Ammar Kanaan reiterated the company’s commitment to investing in Brazil, citing the country’s immense economic growth potential, particularly within the port sector.

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