Log in or Register for enhanced features | Forgotten Password?
White Papers | Suppliers | Events | Report Store | Companies | Dining Club | Videos
Freight
Ocean
Return to: LBR Home | Freight | Ocean

CMPort acquires majority stake in Brazil’s Paranagua´ Container Terminal

LBR Staff Writer Published 28 February 2018

China Merchants Port Holdings (CMPort) has completed the acquisition of 90% stake in Brazil’s Paranaguá Container Terminal (TCP) for $923m.

During the BRICs Summit in September 2017, CMPort first signed an agreement to purchase a stake in TCP.

Claimed to be the biggest acquisition in Brazilian and Latin American port sector, the acquired terminal will help CMPort to expand its port services. It is also CMPort’s first investment in Latin America.

TCP, which is the second largest container terminal in Brazil, is presently having a capacity to handle 1.5millionTEUs. It is expected to be increased to 2.4millionTEUs by the end of 2019.

According to CMPort, the deal will enhance the Sino-Brazil economic and comprehensive strategic partnership

Situated in the southeast coast of Paraná State of Brazil, TCP includes three container berths with a capacity of 1.5million TEUs.

TCP, which concession will expire in 2048, is the only container terminal in Southeast Brazil with direct railway connection in yard. It is 280km away from the largest port in Santos.

CMPort vice chairman Dr Hu Jianhua said: “CMG is a pioneer in the field of China's industry and commerce, and also the important promoter of Go Abroad Strategy under the "Belt and Road" Initiative.

“CMG has so far invested in 52 ports in 20 countries and regions, actively promoting the "Port-Park-City" development "Shekou model" with Port as the linkage, to enhance synergy and interaction between industry and city.”

CMPort managing director Bai Jingtao said: "As of 31st December, 2017, CMPort surpassed 100 million TEUs milestone in 2017, in which, our overseas projects such as Colombo International Container Terminal (CICT) in Sri Lanka and Port de Djibouti S.A. in Djibouti have all become benchmarking companies recognized by local governments and people.”


Image: CMPort has completed the acquisition of 90% stake in Paranagua´ Container Terminal. Photo: courtesy of China Merchants Port Holdings Co.Ltd.