APM Terminals will, subject to regulatory approval, acquire 50% of the shares in Brasil Terminal Portuario (BTP), a new container terminal being built in Santos, Brazil. APM Terminals and Terminal Investment Limited reached agreement to jointly manage the terminal.
BTP is currently developing the facility that is expected to be fully operational by mid 2013. The new container facility will feature 15 meter water depth and a capacity of 2.2 million TEU when fully built out, to serve Brazil's future ambitions through a world-class port capable of handling the next generation of vessels for the trade.
"In Brazil, one of the world's fastest-growing markets, port modernization represents a huge opportunity, stated Kim Fejfer, CEO of APM Terminals calling "the new agreement is an important step in offering our customers better access to Brazil markets". Vikram Sharma, CEO of Terminal Investment Limited added "this agreement will benefit Brazilian shippers by making Santos more competitive in world markets".
The Port of Santos serves the state of Sao Paulo and its hinterland. Roughly 50% of Brazil's GDP is generated in the areas served by the port of Santos and more than 25% of Brazil's trade passes through the port.
APM Terminals today operates in the Brazilian ports of Pecem and Itajai, and offers its customers inland services and depots.
Terminal Investment Limited today operates the terminal of Portonave in Navegantes, Brazil.
