Santos port wins IDB loan

A US$100m loan has been approved for the largest port PPP in Brazil.

Operator Embraport is to receive the loan from the Inter-American Development Bank (IDB) to finance construction, operation and maintenance of a new container and liquids terminal at Santos port.

The money will fund the first phase of the project, which is critical in easing congestion and reducing transportation costs in Santos.

It will be coupled with a large syndicated loan from international commercial banks, delivering a combined value of over $400m.

The project will improve the port’s capabilities to receive a new generation of deeper-draft container ships and help divert traffic away from the city.