International Container Terminal Services Inc. (ICTSI) said yesterday it has acquired a 47 percent equity in Brazil realty firm, Inhaúma Fundo de Investimento Imobiliario – FII (FII Inhaúma).
FII Inhaúma holds perpetual rights to a property where ICTSI intends to develop a private use terminal.
The acquisition was coursed through ICTSI Americas BV, but parent ICTSI did not provide further details about the transaction, parent ICTSI said in a statement to reporters.
The 32-hectare FII Inhaúma real estate includes an inactive shipyard, the “Estaleiro Inhaúma,” in Rio de Janeiro City, State of Rio de Janeiro, Caju. It is adjacent to ICTSI’s RIO Brazil terminal.
“In the immediate future, the said property will be used by ICTSI RIO Brazil as additional capacity for its existing operations,” ICTSI said.
The acquisition represents an investment opportunity for ICTSI to develop the area and expand the port region of Rio de Janeiro in terms of operations and logistics capacity.
With an annual capacity of 530,000 twenty-equivalent units, the 18.8-hectare ICTSI RIO Brazil is located in Rio de Janiero, Brazil’s largest economic region. The container port terminal also serves the surrounding import-export centers.
With its fleet of container handling equipment and 15-meter berth depth, the terminal has the capacity to allow large container vessels to berth at the same time. It is equipped with five quay cranes and 16 rubber-tired gantry cranes.
