The Port of Rotterdam Authority will participate in the development of the Port of Pecém, a rapidly growing trading hub in Ceara State, Northeast Brazil.
With a total cargo throughput of 16 million tonnes in 2017, Pecém has undergone an average annual growth of 22% over the past 10 years.
By 2030, the Port of Rotterdam Authority is expecting to achieve a throughput of 45 million tonnes.
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As part of its involvement, which has now been approved by the Municipality of Rotterdam and the Ministry of Finance, the Port of Rotterdam Authority will invest USD $87.5 million, as well as receiving a 30% interest in the Brazilian port’s shares.
In addition to this, Rotterdam will also have joint control over strategic decisions and positions at Executive Board, Supervisory Board and management level.
By acting on the international maritime stage, and offering opportunities to Dutch companies abroad, the port authority hopes to create economic and social value for the Netherlands and the Rotterdam-Rijnmond region.
— Port of Rotterdam (@PortOfRotterdam) August 30, 2018
Allard Castelein, CEO of the Port of Rotterdam Authority, said: “Our participation in the Brazilian Port of Pecém is promising for all parties. We have been working as adviser with Pecém for several years.
“This investment will further intensify the partnership. We will be working with Ceará State to ensure that Pecém expands to become the future logistics and commercial hub of Northeast Brazil.”
The Port of Rotterdam Authority and Ceará State are expected to sign an official agreement next month, before finalising the terms of participation at a later date.