Brazilian Port to Secure IFC Loan

22 March 2011 (Last Updated March 22nd, 2011 18:30)

Brazil's Santos Port has secured a $679m loan from International Finance Corporation (IFC) to build a new container terminal worth $908m. The IFC will directly provide a long-term loan of $97m for the project, while the additional $582m will be in syndicated loans from BNP Paribas, Cre

Brazil’s Santos Port has secured a $679m loan from International Finance Corporation (IFC) to build a new container terminal worth $908m.

The IFC will directly provide a long-term loan of $97m for the project, while the additional $582m will be in syndicated loans from BNP Paribas, Credit Agricole, DnB Nor Bank, ING Capital, KFW Ipex Bank and Banco Santander.

Brasil Terminal Portuario (BTP), jointly owned by Terminal Investment and APM Terminals, will develop and operate the new container terminal.

The new terminal will help address capacity constraints in the port and remediate an existing landfill at the project site, for which BTP intends to spend about $105m.