Port of Rotterdam Authority has signed an investment agreement with the Brazilian state of Ceará to outline a roadmap for its participation in the development of the port of Pecém.
The agreement will help Port of Rotterdam Authority to explore the areas of its investment of around €75m in Pecém’s port-industrial complex, which accounts for a 30% share in the project.
As part of the deal, Port of Rotterdam Authority will also have a joint right in strategic and investment decisions, as well as representation in the port of Pecém executive board, supervisory board and management.
A definite participation agreement between the two parties is scheduled to be completed by the end of this year.
Once finalised, the partnership is expected to help Pecém to become one of the leading maritime hubs in Northeast Brazil.
Port of Rotterdam Authority CEO Allard Castelein said: “Our participation in the port of Pecém is a great opportunity.
“This port has clear growth potential and its strategic situation gives it a strong position for developing into Northeast Brazil’s foremost logistics and industrial hub.
“This, in turn, will create new opportunities for international trade flows and investments from Europe.”
Over the last decade, Pecém witnessed an average growth of 22%.
Pecém’s port-industrial complex has already developed various infrastructures, including breakwaters, berths, land and others, and is a base for several logistics and industrial facilities such as a container terminal.
In order to further develop the complex, the state of Ceará has recently invested in multiple international partnerships, including the state’s plan to lay underwater data cables for telecommunications to connect Northeast Brazil with Africa and the US.