Terminal de Santa Catarina

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In 1997, Porto Novo Participacoes and Four Winds Participacoes obtained a 50 year concession to operate a mixed terminal of containers and general cargo in the port of San Francisco do Sul in Santa Catarina State. Santa Catarina State is located in southeastern Brazil. The two companies formed Terminal de Santa Catarina, S.A. as the project company. In 2006, Dragados Servicios Portuarios y Logisticos (SPL) bought 50% of the shares of Terminal de Santa Catarina, S.A. for US $31.9 million and obtained the rights to operate the terminal. Porto Novo Participacoes and Four Winds Participacoes stakes were reduced to 25% each. Dragados SPL intended to double the capacity of the port from 300,000 TEUs to 600,000 TEUs. Expansion plans included: expanding the wharf, acquiring new equipment, and investing US $31.25 million. Both San Francisco do Sul and Itaji Port, its competitor are saturated with cargo. Dragados SPL’s ultimate share holder is ACS Group (Actividades de Construccion y Servicios). In 2007, TESC started the expansion works, which were concluded in October 2009. The investment on the project totalled US$ 70 million (BRL 140 million). Financial closure month is an estimate based on a 50 year contract signed by the original stakeholders.