Brazil set to auction US$535mn iron ore port terminal contract in October
The Brazilian government is planning to offer a leasing contract for the ITG02 iron ore terminal at Itaguaí port, Rio de Janeiro state, in a bidding process in October, a spokesperson for the ports and aiports ministry told BNamericas.
Over the duration of the 35-year leasing contract, around 3 billion reais (US$535mn) will be invested in the new terminal, which will be built on an area of almost 350,000m². The terminal will significantly boost iron ore throughput at the port capacity and will be able to handle approximately 400Mt of ore over the contract term.
The bidding process is expected to attract fierce competition, as the area prepared for ITGO2 is connected by a railroad to an iron-rich area in Minas Gerais state.
The project involves the construction of an exclusive pier for the terminal, which will be close to existing terminals serving major mining and metals firms such as Vale and CSN.
The terminal contract will be offered to investors along with a series of other port terminals.
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News in: Mining & Metals (Brazil)
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