Rio de Janeiro - Multicar Rio

active

Multicar Rio Terminais de Veiculos SA (Multicar) won the bid for the rights to manage the car terminal at Rio de Janeiro Port in November 1998 with an offer of US$ 26.3 million as lease fee. Multicar is a joint venture of Multiterminais Alfandegados do Brasil(85%) and Fundo Trade/Banco do Brasil (15%). The contract has a duration of 25 years, extendable for another 25 years. Multicar was committed to invest US$ 1,65 million (R$ 3 million) in the terminal through the concession period. The facility, which is operating roll-on, roll-off vessels, has an area of 138,000 square meters, and was handling 105,000 vehicles per year at the time of the concession. In 2003, Sada Transportes de Armazens Ltda brought a legal suit to nullify the bid and the concession contract of Multicar. A State Court rejected the claim and Sada appealed to a Federal Court. As of February 2004, a final decision on the issue had not been enacted. By the end of 2009, Multicar was planning an additional investment of US$ 150 million (BRL 300 million) to increase its storage capacity. The investment was conditioned, though, to the approval of an extension of the current contract until 2048.