Port of Itaguaí to become stage of Brazil’s largest leasing initiative

Port authority PortosRio took another step toward implementing a new terminal dedicated to solid mineral bulk cargo in the Port of itaguaí: the leasing of ITG-02. This area will have the capacity to handle 20 million tonnes per year after an estimated investment of nearly BRL 3 billion in the first years of the contract. On March 23, 2023, Brazil’s waterway agency Antaq announced it authorized a public hearing for the process, the first necessary regulatory step.

The preparatory documents for the bidding of the port facility were approved during Antaq’s 539th ordinary board of directors, who agreed that the study on which the bidding process is based is in accordance with Antaq’s resolution nº 85/2022, thus, approving a public hearing to gather contributions to develop the technical and legal documents related to the lease of ITG-02. The period for sending contributions, as well as when the public hearing will be held, will be determined by the agency at a later time.

The future terminal, which will occupy an area of 348,937m, will play an important role in developing Brazilian foreign trade, as it will involve the creation of the infrastructure necessary to transport ores extracted in other regions and consolidate the Port of Itaguaí as one of the country’s leading export platforms for commodities, in addition to generating economic and social benefits for at least 25 years, after which the contract can be renewed.

See below the top five most exported commodities from the Port of Itaguaí last year. The data is from DataLiner.

Top 5 exports – Port of Itaguai | Jan 2022 – Dec 2022 | WTMT

Source: DataLiner (click here to request a demo)

PortosRio’s acting CEO, Jean Paulo Castro e Silva, explains that “demand studies confirm that there is an expected increase in production in the Quadrilátero Ferrífero region, due to new mines going operative in the coming years, which increases the necessity for outflow routes. Implementing a new terminal in the Port will increase the flow capacity in this scenario. Furthermore, this new terminal will adopt state-of-the-art equipment and processes to guarantee a highly efficient operation with low environmental impact. Due to its size and socioeconomic impact, this is PortosRio’s main new lease initiative and one of the most important in the country.”

Regarding the socioeconomic impact of the project, previous studies carried out by PortosRio point out that, in the first years, more than 2,800 indirect jobs will be created during the implementation works, and 250 direct jobs and 1,800 indirect jobs will be created since the terminal is fully operational. In addition, estimates indicate that the proposed project will generate a significant increase in revenue for the municipality of Itaguaí through the payment of the Service Tax (ISS), which could total R$1.2 billion over the contract term.

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