Brazil’s port authority, SEP, has authorized local steelmaker Companhia Siderurgica Nacional (CSN) to renew in advance the exploration contract it has for its bulk minerals port terminal in the city of Itaguai, in the state of Rio de Janeiro.
According to the port authority, CSN is expected to invest BRL 2.5 billion in the port terminal, out of which BRL 1 billion will be destined for new investments and the remaining BRL 1.5 billion for keeping the operational conditions of the facility.
As a result of the deal, CSN is expected to expand the port’s loading capacity from 30 million mt/year to 60 million mt/year by December 2017.
SEP said CSN will build a new coal courtyard at the same time it will “adequate” another existing space, also destined to coal, to stock iron ore.