SAO PAULO, Feb 24 (Reuters) – FTS Group received an public sale on Friday to function a terminal on the port of Paranagua, one of many most important ports in Brazil for grains and sugar, amid an uptick in transport exercise within the nation.
The group should make investments a minimum of 338.2 million reais ($64.91 million) in growth works on the port’s terminal referred to as PAR50, which offers with transport and storage of bulk liquids, stated Portos do Parana, which manages ports within the southern Brazilian state of Parana.
Luring personal traders to logistics tasks is essential for Brazil, the place farmers are anticipated to reap greater than 300 million tonnes of grains this yr.
FTS received the public sale with a lonely bid of 1 million reais ($191,938). A second terminal, PAR09, for strong bulks, was additionally up for public sale however had no bidders.
Regardless of the shortage of bidders, a minimum of two teams with international traders have been within the PAR09 terminal, Portos do Parana’s Chief Govt Luiz Fernando Garcia informed Reuters.
After visiting the port and holding talks with its executives, these teams determined to not take part within the public sale as a result of they didn’t have time to resolve inside governance points, Garcia stated.
Particularly, the boards of those corporations, some situated overseas, lacked approval to take part within the bidding, he added.
In line with Garcia, the events, which he couldn’t identify, are ready for an eventual re-launch of the public sale, which is deliberate to happen within the first half of 2023.
The minimal funding for bidders of the PAR09 terminal is of 910.6 million reais.
($1 = 5.2100 reais)
(Reporting by Ana Mano and Nayara Figueiredo Enhancing by Chris Reese)
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