According to Brazil''s Votorantim Financeira bank, upgrading the port of Santos to a position where there are no longer any major bottlenecks would cost in the region of US$1 billion.
Implementing similar upgrades at all national ports would cost US$20 billion. Work required at Santos includes extending container stacking yards, constructing perimeter roads, recommencing dredging work, expanding the total area of the port and the conclusion of work associated with the Vehicle Export Terminal.
The bank emphasises that there is a national shortage of resources pointing out that the government is spending US$8 billion in 2004 on all transport infrastructure, which is only 40% of what is required. Overall, the main problem facing Brazilian ports is one of draught. Dredging programmes, for example, are frequently interrupted as financial resources dry up.
This in turn prevents the country from realising its true export potential.
