The Port of Rotterdam Authority has signed an investment agreement with the port of Pecém in Brazil that will see the European port invest approximately EUR75 million (USD85 million) in Pecém’s port complex.
According to the port of Rotterdam, this will represent a 30 percent share in the enterprise. In addition, the Port of Rotterdam Authority will have an equal input into strategic and investment decisions as well as representation on the Brazilian port’s executive board, supervisory board and management.
The partnership, according to the port of Rotterdam, allows Pecém to develop into the leading maritime hub for northeast Brazil. The port-industrial complex is already home to numerous logistics and industrial facilities, including a container terminal, power plants, a steel mill and wind turbine manufacturers.
The partners expect to conclude the definite participation agreement before the end of 2018.