Equity acquisition funds TCP

The Terminal de Conteineres de Paranagua (TCP) said the acquisition by Advent International will help it expand and increase its logistics services.

Although the financial details were not disclosed, the deal – still subject to regulatory approval – will enable TCP to pursue an expansion plan aimed at construction of a third berth, extending its available quay length by 315 metres.

Further, the deal will help fund new equipment for the terminal, some of which is already in place. Two new ship-to-shore cranes will follow one already just commissioned, plus various handling equipment units including straddle carriers, forklifts and trucks to raise the capacity of the back area of the terminal.

After these investments, the capacity of the terminal is expected to grow substantially, jumping from the current 700,000 teu to over 1.2m teu.