THE municipality of Rotterdam and the Ministry of Finance have, as shareholders, have approved the Port of Rotterdam Authority's EUR75 million (US$87
THE municipality of Rotterdam and the Ministry of Finance have, as shareholders, have approved the Port of Rotterdam Authority's EUR75 million (US$87.48 million) investment in the Port of Pecem, a rapidly growing port in northeast Brazil. In addition to holding 30 per cent of the shares, the port authority will have joint control of positions on the executive and supervisory boards and at management level.
'Our participation in the Brazilian port of Pecem is promising for all parties. We have been working as adviser with Pecem for several years,' Port of Rotterdam Authority CEO Allard Castelein said.
'This investment will further intensify the partnership. We will be working with Ceara state to ensure that Pecem expands to become the future logistics and commercial hub of northeast Brazil,' which will offer opportunities for international trade flows and investments from Europe.
Pecem's total throughput in 2017 was 16 million tonnes and the port has undergone an average annual growth of 22 per cent over the past decade. The economic growth (national and international) and the related market demand will enable Pecem to continue to develop towards a throughput of 45 million tonnes by 2030.
Further to its participation in Pecem, the port authority is also involved in Porto Central, a greenfield port still under development in Espirito Santo state.
