July 24 - The Port of Antwerp, through its subsidiary Port of Antwerp International (PAI), will invest USD10 million in the Port of Açu, a privately owned port complex in São João da Barra, Brazil.

Brazil, as the largest economy of Latin America, is an important maritime trading partner for the Port of Antwerp, with more than 6.4 million tonnes of freight exchanged on an annual basis. According to PAI, the investment confirms the port's long-term commitment towards the Brazilian market.

For its investment, PAI will receive 1.176 percent of the share capital, with the option of further investment after 18 months, and will appoint a member to the board of directors.

The Port of Açu Industrial Complex, which is controlled by Prumo Logística, is an industrial deep sea port for the handling of oil and gas, dry bulk, containers and general cargo.

PAI, which was set up to participate and invest in overseas ports and port-related projects, chose the Brazilian port because of its strategic location near oil and gas fields, serving as a support centre for the Brazilian offshore sector due to its proximity to the Campos basin.

Construction of the port complex started in 2007, and the first operations began in 2014. The port features a surface area of 130 sq km, and has the potential to operate 17 km of quayside with a maximum depth of 25 m.