Abu Dhabi fund to bankroll Brazilian port
The Abu Dhabi Fund for Development (ADFD) is to fund construction of the São Mateus private port project, located in the north of the state of Espírito Santo in Brazil. In total, the ADFD will make available $2.55bn of the $3bn total cost.
Developer Petrocity and the government of Espírito Santo have signed an implementation timetable for construction, much of which will be carried out by Odebrecht Engineering & Construction.
São Mateus Port Complex should be completed in its entirety in 2021.
Total capacity will be for traffic of 30m tonnes, with a projected 14m tonnes expected for the third year of operations. The port will have facilities to handle general cargo, ro-ro, ornamental rocks and offshore support vessels.
Petrocity Logística will manage the port, although terminals will be operated by partners. The ornamental stones terminal has already been contracted out to marble and granite multinational Marmi Bruno Zanet.
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