Santos port, railway firms sign US$170mn investment contract
Santos Port Authority (SPA), the state-run company that operates Brazil's busiest port, and a consortium formed by three railway firms signed a management and investment contract for the port's rail network.
The 35-year contract guarantees the necessary investments to boost the port’s rail transport capacity as cargo is expected to double within five to 10 years, said SPA president Fernando Biral in a press release.
The consortium, formed by Ferrovia Centro Atlântica, MRS Logística and Rumo, will be responsible for the management, operation, maintenance and expansion of the railway, and will invest 891mn reais (US$168mn) in the first five years of the contract.
The current capacity of the port is 50Mt/y with a 94% utilization rate, and the planned investments will see it increase to 115Mt/y.
The main works include building a rail yard, viaducts, pedestrian walkways, a new entrance road, among others.
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