The Brazilian Minister of Ports and Airports, Silvio Costa Filho, engaged with Sultan Khayat from Red Sea Gateway Terminal (RSGT) and Jens Floe, CEO of the Jens Floe Group, via videoconference. This meeting aimed to present Brazil's largest portfolio of port and waterway concession investments, highlighting assets slated for auction by 2026. Costa Filho emphasized Brazil's port sector performance, noting economic indicators. "We are pleased to strengthen this partnership between Saudi Arabia and Brazil. Our country is experiencing its best economic phase in years. Over the past two years, our economy has grown by more than 3%. In 2024, the port sector saw an expansion of over 5%, while container throughput surged by 18%," he stated.
RSGT showed interest in acquiring federal port assets, especially in Itaguaí, Bahia, and the Tecon Santos 10 project. This project is a mega container terminal at the Port of Santos aimed at enhancing Brazil's port capacity. RSGT, a major global port operator, manages Jeddah Islamic Port's newest container terminal, which saw an investment of around $1.7 billion. Brazil's National Secretary for Ports, Alex Ávila, mentioned that the country will offer investment opportunities in over 40 port auctions, covering key concessions in various sectors. "We are also looking to expand partnerships in the mining sector. The ITG02 terminal auction, which is dedicated to solid bulk handling, is expected to process around 20 million tonnes per year and was the largest auction in the history of our port system. We are leading these concession and auction processes to expand infrastructure and enhance port capacity nationwide," Ávila said.
Minister Costa Filho reiterated the port sector's importance for Brazil's economic growth, stating, "In the two years of President Lula's administration, we have already invested R$20.8 billion, and by the end of the term in 2026, private sector investments will surpass R$50 billion." The meeting emphasized the potential for collaboration between Brazil and Saudi Arabia, with RSGT's CEO Jens Floe highlighting Brazil as a key market with immediate investment opportunities.
Source: Datamar News