The Philippines-based International Container Terminal Services announced its decision on operating, managing and developing the Terminal de Contêineres 1 in the Port of Rio de Janeiro, under a deal with Boreal Empreendimentos e Participações S.A.
Specifically, the deal between the two participants includes ICTSI Americas taking over the terminal by acquiring 100% of the shares of Libra Terminal Rio S.a.
Also, ICTSI informed that the take-over price is about BRL 740 million (USD 197 million).
The transaction will expand the terminal’s impact in the Brazilian container terminal market, as the company already operates the Suape Container Terminal in the Brazilian city of Ipojuca.
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The Terminal de Contêineres 1 consists of five ship-to-shore gantry cranes and a total land area of 18.8 hectares and 715 meters of quay wall. A design water depth of up to 16 meters enables the terminal to receive global shipping lines’ largest container vessels.
Moreover, the terminals concession began in 1998 and was extended in 2011 until 2048.
In 2018, T1Rio had a throughput of 135,000 TEUs. The terminal has a capacity in excess of 530 thousand TEU with the ability to expand further.
