Teconvi

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In August 2001 a 25 year lease for the container terminal at Itajai port was awarded to a consortium led by Andraus Engenharia e Construcoes. Terminal de Conteineres do Vale do Itajai (Teconvi) is located in the state of Santa Catarina. Andraus began operating the terminal in January 2002. As of late 2004/beginning of 2005, the main sponsors of Teconvi were: Santa Catarina Participacoes S/A (46.54%), Cattalini Terminais Maritimos Ltda (23.65%), Marcon Servicos e Despachos em Geral Ltda. (21.34%). In May 2005, AP Moller-Maersk -through a subsidiary called Technical Investimentos e Participacoes Ltda- bought a 50% stake in Teconvi on an operation worth US$35.5 million. After the operation, the remaining stakeholders were Cattalini Terminais Maritimos Ltda (30%) and Marcon Servicos e Despachos em Geral Ltda. (20%). In the first phase of the rehabilitation works, Teconvi invested US$ 40 million (between 2003 and 2007). In 2007, APM Terminals acquired 100% of Teconvi's shares. In February 2008, Teconvi commenced the second phase of the investments in the terminal, and included the construction of a new berth and the expansion of the containers storage area. Investments on this second phase, which were expected to be completed by the second half of 2009, were estimated at US$ 54.6 million (BRL 100 million). By April 2009, the construction works had already been completed and the operations started on the new berth.