A total US$1.73 billion has been approved in port infrastructure works at Rio de Janeiro and Santos port by Brazil's waterways regulator Antaq.
The work is to be carried out by local steelmaker CSN, container terminal operator Santos Brasil and US food and agribusiness Archer Daniels Midland Company (ADM).
The first project to be completed by CSN will involve the expansion of Itaguai port terminal concession contract in Rio de Janeiro state.
Santosport contract in São Paulo will extend from 2022 to 2047, and CSN will be expanding its Tecar solid grain terminal with plans to export iron ore.
Santos Brasil is also planning two projects at its Tecon terminal. The first involves a pier extension to 1,200m from its original length of 980m. The second involves deepening the berthing area from 13m to 15m.
Lastly, ADM plans to update its solid grain terminal at Santos port and will extend its lease by an extra 20 years to 2037.
The plans still need to be finalised by the special ports department which intends to approve the agreements.
