Of the total, Santos will receive US$59.32m, which is 600% higher than money allocated in 2004. Much of this is allocated to the construction of a perimeter road to serve the 16km of quay in the port, where the aim is to reduce congestion currently afflicting the port and surrounding area.
Directors signing the agreement with the president of the Imbituba Port Authority are confident that the new terminal will ease chronic congestion.
Libra has promised to invest US$7m during the next two years on new equipment and on refurbishing the port’s berth. (See also page 12)
