Cofco International, a Chinese food powerhouse, won the contract to explore the STS 11 Terminal in an auction held on Wednesday (30) at B3 in São Paulo. The company will invest R$ 764.8 million in the asset, which will be one of the country’s largest port terminals dedicated to vegetable bulk, with an annual capacity to handle 14.3 million tonnes. The project will be built in two parts, with roughly 62 thousand square meters between warehouses 12A and 15 on the right bank of the Port of Santos in the first phase. Furthermore, additional space will be added in the third year of the lease, bringing the total to 98 thousand square meters. Cofco will explore the asset for 25 years, with the possibility of renewing the contract for up to 70 years at the sole discretion of the granting authority. Among the investments provided in the contract are quay fortification and dredging works, the acquisition of two new ship loaders, demolition and construction of new silos and warehouses, building new railway infrastructure, and restoring a historic building on site.
Source: Datamar News