DP World recently initialled a partnership with Odebrecht to acquire a majority stake in Empresa Brasileira de Terminais Portuários (Embraport), the largest Brazilian private multi-modal port terminal.
Embraport is being built adjacent to Porto de Santos, Brazil’s largest container terminal, 90 percent of whose cargo is destined for São Paulo, Brazil’s most populous city, some 80 kilometres away. The site boasts excellent road and rail connectivity.
Embraport’s Phase I is expected to generate a capacity of 1 million TEU (twenty-foot equivalent units). Phase II is expected to add a further 1.5 million TEU capacity, and will enable the port to handle two billion litres of ethanol, a biofuel that powers most of Brazil’s vehicles. Embraport is set to begin operating in 2013
Apart from Odebrecht and DP World, Embraport’s other shareholders include Caixa Econômica Federal’s investment fund FI-FGTS and the Coimex Group, which have led the project since its inception. The latter is reducing its shares, but remains a key member of the consortium.