Santos LIBRA - Terminal 35

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LIBRA – Terminal 35 won a 20-year concession to rehabilitate and operate container terminals 34 and 35 and 36 (Ponta da Praia) at Santos Port on June 25, 1998. The total area of the conteiner terminal is 86,658 square meters. For the concession, the company has to pay monthly installments of US$ 103,500 (R$ 125,000) to CODESP, the government agency responsible for the Santos Port. The company announced that it expected to invest US$ 32.6 million (R$ 38.2 million) in the terminals facilities during the concession period. In January 2003, the concession contract for terminals 34, 35, and 36 was cancelled, due to illegal clauses in the contract. The decision was enacted by a Brazilian Administrative oversight body (Tribunal de Contas da Uniao) and executed by CODESP. CODESP and Grupo Libra are expected to sign a new contract regarding the three terminals. In the meantime, Libra Terminal 35 should continue to operate the terminals. In November 2009, Libra announced its intention to invest US$ 220 million (BRL 440 million) to unify the opertion of its three terminals at Santos Port (T33, T35 and T37), which would also require the construction of a new berth. Such project would require the approval of Codesp and ANTAQ, the Santos Port authority and federal government regulatory agency, respectively. Only port projects which committed US$ 10 million or more in investments were included in the database. The investments of the company in facilities, year by year, were as follows: In 1998 company invested US$ 3 million (R$ 3.6 million) in its facilities. In 1999, Libra – Terminal 35's investments totaled US$ 14.4 million (R$ 26.1 million). In 2000, the company inveseted 2000, the company invested an additional US$ 1 million. In 2001 the investments in infrastructure dropped to US$ 0.6 million (R$ 0.7 million). In 2002, the company invested US$ 2 million in its facilities. Concession payments to CODESP per year were as follows: 1998 - US$ 0.2 million (R$ 0.2 million); 1999 - US$ 0.8 million (R$ 1.5 million); 2000 - US$ 0.8 million (R$ 1.5 million); 2001 - US$ 0.6 million (R$ 1.5 million); and 2002 - US$ 0.5 million.