Brazil is drafting a plan to start the second phase of dredging as part of a $140bn project.

The Programa de Aceleracao do Crescimento includes dredging the Santos Port to 17m, which will allow 10,000 teu box ships to berth.

According to the Brazilian Port Ministry, the project will be drawn up by June 2010 with a schedule for completion within two years.

Brazil has already invested $115.8m in the plan to dredge the port.