BTP receives approval for US$400m contract renewal at Port of Santos
Brazil’s ports and airports ministry and Santos Port Authority have approved the renewal of Brasil Terminal Portuário’s (BTP) lease contract for an additional 20 years, including a commitment from the terminal operator to invest R$1.9bn (US$400m) by 2047.
BTP, which is jointly owned by Terminal Investment Limited (TiL) and APM Terminals, initially submitted its renewal request in May 2021 to the port authority, worth R$1.5bn (US$300m) at the time.
With the final vote by the Federal Court of Accounts (TCU) now secured, the terminal will now prioritise increasing its operational capacity by 40%.
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