See More

Brazil launches port investment program

Dec 06 2012 19:30

Related Articles

Thousands march in Rio over oil dispute

Internet boosts Naspers profit

Brics eye $240bn forex reserves pool

SA keen to host planned Brics bank

Brics holds opportunities for SA

Mantashe calls for 'Zuma moment'

Brasilia - Brazil's government launched a $26bn port investment program on Thursday to reduce the high costs and notorious delays in shipping goods in and out of the major commodities exporter.

The plan to modernize port infrastructure announced by President Dilma Rousseff seeks to increase investment in Brazil's ports through partnership with private companies.

The bidding process that will open next year will favor tenders that offer the lowest tariffs for handling the greatest volume of cargo, moving away from a prior model of granting concessions to the highest bidder.

"Our objective is the greatest movement of cargo possible at the lowest possible cost," Rousseff said.

"We want to increase the efficiency of Brazilian ports with this partnership, which will make our exports more competitive and increase production," she said. "We want an explosion of investment through this partnership with the private sector."

The bulk of the investment would be made between 2014 and 2017, Ports Minister Leonidas Cristino said.

The ports slated for modernization include Santos, which is Latin America's largest port by value of goods moved, Rio de Janeiro, Paranagua, Porto Alegre, Espiritu Santo, Itaqui, Pecem and Suape.

Rousseff said Brazil's ports handle 95% of Brazil's foreign trade. The country is the world's top exporter of coffee sugar and citrus and a major grains exporter. It is also one of the world's biggest exporters of iron ore used to make steel.
brazil  |  imports  |  exports  |  port


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Add your comment
Comment 0 characters remaining

Company Snapshot

We're talking about:


There are no formal training requirements for becoming a beautician in South Africa. But it is highly recommended you complete a course in beauty therapy.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

SA’s new visa regulations are:

Previous results · Suggest a vote