Santos Vehicles Terminal

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Santos Brasil held a temporary contract to build and operate this vehicle terminal since 2003 as a request of CODESP, the state-owned company responsible for managing the port. A total investment of BRL 40 million was committed to building the terminal, whose construction was completed in 2005. The goal was to develop the terminal as fast as possible to avoid losing the shipments to other ports and Santos Brasil was supposed to operate the terminal until the concession was awarded through a competitive bidding process. This investment would be paid back the company awarded with the concession contract. In May 2009, Santos Brasil was awarded the contract to expand, rehabilitate and operate the vehicles terminal located at Santos Port. The bidding process was competitive and Santos Brasil offered US$ 72 million (BRL 144 million) above the US$ 52.8 million (BRL 105.6 million) floor price established by the state government (the payment transferred for the concession rights totaled US$ 124.8 million - BRL 249.6 million). The other offer was made by a subsidiary of the Brazilian group Libra (the offer was US$ 10 million (BRL 20 million) above the minimum price). In July, 2009, the contract was signed for a 25-year period, renewable for another 25 years, and the company committed to pay US$ 3.5 million (BRL 7 million) lease fee during this period. Information on additional infrastructure investment was not known. This project will be undertaken by Santos Brasil subsidiary Union Armazenagem e Operações Portuária. In 2009, Santos Brasil ownership structure was the following companies made up by Brazilian investors: PW237 Participacoes (20%), Multi STS Participacoes e Brasil Terminais (20%), Opportunity Fund (30%) and several small shareholders (30%). In 2009, this export terminal had the capacity to handle 290 thousand vehicles per year and had a total area of 164,000 square-meters and 310-meter berth quayline. Source of information: sponsor's website, Folha de Sao Paulo, Codesp