Porto de Santos Railway

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Portofer was awarded the contract to rehabilitate and operate the 200-km rail network of Santos Port. The project envisaged an investment of US$ 6.2 million in the rehabilitation works. Portofer was a consortium of Ferropasa and Ferrovias Bandeirantes SA. It was set to operate the facility during a 25-year period. Ferropasa held a 36% stake in Ferrovias Bandeirantes S.A., besides controlling the other two rail operators in the region - Ferronorte and Novoeste. The sponsors took over the operation of the railway in July 2000. In 2002, Ferropasa had increased its stake in Ferrovias Bandeirantes to 62%, becomming the controlling shareholder of Portofer. In the same year, Ferropasa had its name changed to Brasil Ferrovias SA. As of December 2002, Brasil Ferrovias' shareholders were Brazilian companies and pension funds: Previ (Caixa Previdencia dos Funcionarios do Banco do Brasil - 26.65%), Funcep (Fundacao dos Economiarios Federais - 22.31%), Constran S.A. (Construcoes e Comercio - 16%), Laif V Ltda (15.36%), BRP Ferronorte LLC (5.6%), Chase Capital Partners (5.98%), Banco Bradesco S.A. (3.56%) and others (5.69%). In May 2006, ALL America Latina Logistica took the control of Brasil Ferrovias and, consequently, of Portofer. Between 2007 and 2009, Portofer invested US$ 10 million (BRL 20 million) to rolling stock and storage areas' infrastructure improvement. In the end of 2009, an additional US$ 1.7 million (BRL 3.5 million) in investment was undertaken. From 2000 to 2003, Portofer invested US$ 4.16 million (R$ 12.5 million).