ICTSI secures Rio terminal concession

Port of Rio Port of Rio. Image: Grupo Libra.

ICTSI subsidiary ICTSI Americas BV has acquired 100% of the shares of Libra Terminal Rio S.A. (Libra Rio) to run the Terminal de Contêineres 1 (T1Rio) container terminal in the Port of Rio, Brazil.

Libra Rio holds the concession rights to operate, manage and develop T1Rio and was acquired by ICTSI from Boreal Empreendimentos e Participações SA. The deal to take over the port container terminal concession was disclosed to the Philippine Stock Exchange, reported Manila Standard.

ICTSI said: “The parties will work to sign a share purchase agreement in due course.”

Concession until 2048

The concession of T1Rio commenced in 1998 and was extended in 2011 to last until 2048.

ICTSI said it would assume the operational, development and other responsibilities under the current concession contract.

“The transfer of the facilities to ICTSI management is expected to take place after all conditions precedent and required regulatory approvals have been obtained,” it said.

T1Rio had a throughput of about 135,000 teus and an estimated capacity of 530,000 teus in 2018. It has five ship-to-shore gantry cranes and an extensive range of yard handling equipment, including more than 16 rubber tyred gantry cranes.

It has a total land area of 18.8 hectares and 715m of quay wall, with a design water depth of up to 16m and the capacity to handle large container ships.

By Rebecca Jeffrey

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