Imbituba Fertilizer and Animal Feedstock Terminal

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In April 2011, the Brazilian company Fertilizantes Santa Catarina Ltda (Fertisanta) was granted an authorization to lease, own and operate a fertilizer and animal feedstock terminal at the Imbituba port located in state of Santa Catarina. The bidding criteria was the highest lease payment and the number of companies participating in the bidding process along with Fertisanta was not available. In January 2012, the 25-year least contract was signed and the private sponsor took over the terminal operations in 2012. Fertisanta committed to invest US$ 9 million (BRL 17.8 million) over the first five years of the contract, which may be extended for an additional 25 years. This investment was expected to allow the terminal to expand its capacity from 250 to 450 thousand tons per year (the terminal area was expected to increase by an addtional 21.800 square-meters; the terminal area when the contract was granted was 59.263 square meters).