Santos Brasil extends concession of Tecon Santos terminal to 2047

Brazilian port operator Santos Brasil has announced that the country’s special port department SEP approved an early 25-year extension of its concession to operate Tecon Santos terminal, thus extending the company’s lease to 2047.

The extension of the current 25-year concession, which started in 1997 and was supposed to end in 2022, comes with the government’s approval for a BRL1.2bn (US$315m) investment plan for the facility’s expansion and modernisation.

The project, which is scheduled to begin in 2016 and be completed in four years, will increase the handling capacity of the terminal to 2.4m teu from the current 2m teu.