An injection of BRL 8.6 million from the Merchant Marine Fund (FMM) is set to modernize Rio de Janeiro’s naval and port sector, funding shipyard upgrades and vessel construction with the potential to generate over 12,000 direct jobs. The funding covers three shipyards, Aliança S.A. and Mauá S.A. in Niterói, and São Miguel in São Gonçalo, alongside major infrastructure projects like the BRL 3.6 billion ITG02 Port Terminal in Itaguaí and the BRL 21.3 million upgrade to Oceanpact’s OTSV Ilha do Mosqueiro. According to Minister Silvio Costa Filho, the investment aims to boost Brazil’s global competitiveness and local economies. The FMM is managed by the Ministry of Ports and Airports in partnership with public banks, offering tailored credit for the sector.
Source: Ministério de Portos e Aeroportos (Gov.br) (*Translated by Ia Niani)
RIO’S NAVAL SECTOR SET FOR COMEBACK, BOOSTED BY BRL 8.6 MILLION FROM THE MERCHANT MARINE FUND
Published On - 9 de October de 2025