Santos TECONDI

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TECONDI won a 25-year concession to expand, rehabilitate and operate the Valongo Container Terminal (Terminal de Conteineres do Valongo) at the Port of Santos on January 12th of 1998. TECONDI has to pay monthly installments of US$ (R$ 23,800)to CODESP, the government agency responsible for the Port of Santos. The company announced that it expect to invest US$ 114.9 million (R$ 138.7 million) during the concession period to expand and rehabilitate the container terminal facilities. TECONDI started operations in an area of 53,000 square meters (phase 1) and it is expected to expand the area to 170,000 square meters (phase 2). As of December 2003, the second phase had not started. Between 2001, when the terminal started its operations, and 2008, a total of US$ 60 million (BRL 110 million, 2000 value) was invested in the facility. In 2009, Tecondi started investing another US$ 85 million (BRL 170 million) in expansing the terminal, which was expected to increase the terminal capacity from 300 to 700 thousand TEUs. The construction works were set to be completed by mid-2010. Between 2000 and 2012, a total of US$ 166.5 million (BRL 325 million) was invested in the terminal. Only port projects which committed US$ 10 million or more in investments were included in the database.