The companies will work together to confirm a share purchase agreement.
Libra Rio holds the concession rights for the operations, management and development of the container facility Terminal de Contêineres 1 (T1Rio) in the port of Rio de Janeiro City in Brazil.
The concession of T1Rio started in 1998. This was extended in 2011 and will run until 2048.
The operational, development and other responsibilities will be assumed by ICTSI under the current concession contract.
After securing all conditions precedent and necessary regulatory approvals, the transfer of the facilities to ICTSI management will happen.
Last year, T1Rio recorded approximately 135,000 twenty-foot equivalent units (TEUs) passing through the facility and an estimated total capacity of 530,000 TEUs.
The terminal has container terminal assets, including five ship-to-shore gantry cranes and a range of yard handling equipment, including more than 16 rubber-tired-gantry cranes.
It occupies a land area of 18.8ha and has 715m of quay wall, with a design water depth down to 16m.
Furthermore, it is capable of receiving large container vessels of global shipping lines.
T1Rio will be ICTSI’s second type of this facility in Brazil, where the company also operates the Suape Container Terminal.
ICTSI also operates other terminals throughout South America, including the Port of Guayaquil in Ecuador, the Port of La Plata in Buenos Aires, Argentina; and Mexico’s Port of Manzanillo and Port of Tuxpan.