Washington, D.C. / Sao Paulo, Brazil,
March 17, 2011—IFC, a member of the World Bank Group, is providing
financing for a new container terminal in the Port of Santos, Brazil’s
main port and the largest in Latin America, that will help address congestion
and strengthen Brazil’s port sector, which is critical for competitiveness.
IFC structured the financing and is providing a long-term loan of $97 million
to Brasil Terminal Portuario S.A., or BTP, the company that will develop
and operate the new container terminal. IFC also mobilized $582 million
for the $908 million project through its syndication program from the following
commercial banks: BNP Paribas, Credit Agricole, DnB Nor Bank, ING
Capital, KFW Ipex Bank and Banco Santander. The financing represents
IFC’s largest syndication and port investment globally.
BTP is owned jointly by Terminal Investment Limited and APM Terminals BV,
two of the world’s leading container terminal operators. “This investment
is another milestone in our rapidly expanding portfolio,” said Tom Van
Eynde, CFO of Terminal Investment Limited. “It helps increase our
group’s geographic diversity, while furthering our objective to be globally
present on all major anchor points of trading routes. IFC, together with
our relationship banks, is helping us achieve this challenging project.”
Some 90 percent of Brazil’s international trade is handled through ports.
The new terminal will help address capacity constraints and will
remediate an existing landfill at the project site. BTP will employ around
3,000 workers during construction and is expected to create about 1,500
direct jobs and 9,000 indirect jobs during operations.
“IFC’s financing for the new terminal supports Brazil’s efforts to improve
port infrastructure, a cornerstone for the country’s sustainable growth
and competitiveness,” said Paolo Martelli, IFC Director for Latin America
and the Caribbean. “This project also incorporates the highest level
of financial, technical, and environmental expertise.”
Soren Sjostrand Jakobsen, Head of Project Implementation for APM Terminals,
said, “This exciting project will provide much-needed capacity in the
Port of Santos and offer shipping lines a level of service second-to-none
in the port. The funding process with IFC and the syndication banks
has been smooth, quick, and to the full satisfaction of the shareholders.”
BTP will spend about $105 million to clean up the landfill at the project
site, providing a significant environmental benefit to the area. The
company will also create an educational center and a small nature preserve
where the community can learn about the marine and estuarine environment.
IFC, a member of the World Bank Group, is the largest global development
institution focused on the private sector in developing countries. We create
opportunity for people to escape poverty and improve their lives. We do
so by providing financing to help businesses employ more people and supply
essential services, by mobilizing capital from others, and by delivering
advisory services to ensure sustainable development. In a time of global
economic uncertainty, our new investments climbed to a record $18 billion
in fiscal 2010. For more information, visit www.ifc.org.