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Updated: Nov 22, 2018

The Port of Rotterdam Authority has received the green light from the Netherlands’ Ministry of Finance and the municipality of Rotterdam for work with Brazil’s Port of Pecém.

The authority will hold 30% of the Brazilian port’s shares (pictured is the Port of Pecém) Photo: Port of Rotterdam

According to the Port of Rotterdam, the contribution — with a decision anticipated to be signed this month and the following months set to be used to further finalise the involvement — involves an investment of some €75m.

The authority will hold 30% of the Brazilian port’s shares, as well as having joint control of strategic decisions and positions at the facility’s Executive Board, Supervisory Board and management levels.

Allard Castelein, authority chief executive, said that his company has been working, as an adviser, with the port for several years and that the investment “will further intensify the partnership” between the two parties.

We will be working with Ceará state to ensure that Pecém expands to become the future logistics and commercial hub of northeast Brazil,” he said.

According to a release, the Brazilian port has “the possibility and ambition” to develop into an industrial and logistics hub for this region — something which will offer many opportunities for trade flows and investments from Europe.

It has witnessed an average annual growth of 22% over the past decade, with national and international economic growth and related market demand set to allow it to keep developing towards a 45m-tonne throughput by 2030.

Additionally, the Port of Rotterdam said that most of the infrastructure needed — examples being breakwaters and berths — is already available at the facility, making it “an attractive proposition”.

The Port of Rotterdam Authority is also involved with Porto Central, a greenfield port still being developed in the Brazilian state of Espírito Santo.

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